Figure 1
The chart is titled “Tariff Trends: World versus Major Economies (1990 to 2020)”. The vertical axis is labeled “Average Tariff Rate (percent)”. It ranges from 0 to 40 with increments of 10. The horizontal axis is labeled “year” and lists years in order from 1990 to 2020 with increments of 5 years. The legend includes five entries: “World Avg”, “U S A”, “China”, “E U U”, and “Japan”. The “World Avg” series begins near approximately 6 in 1990, rises slightly to around 8 in the mid 1990s, and then gradually declines and stabilizes between approximately 2 and 4 through 2020. The “U S A” series starts near approximately 4 in 1990, declines gradually to around 2 by the early 2000s, remains near 1 to 2 for most years, and shows a sharp spike to approximately 14 near 2019 before dropping back near 2 in 2020. The “China” series begins high near approximately 33 in 1990, declines steeply through the 1990s to around 15, drops further to approximately 7 around the early 2000s, and continues decreasing to approximately 3 to 5 by 2020. The “E U U” series starts near approximately 5 in 1990, fluctuates slightly, and gradually declines to around 2 by 2020. The “Japan” series begins near approximately 4 in 1990, shows minor fluctuations, and gradually decreases to around 2 to 3 by 2020. Note: All numerical values are approximated.Tariff trends: world vs major economies (1990–2020). Source: Author's calculations based on World Bank (WB) data