4.8%. That’s how much the U.S.’ weighted average tariff rate would be if Trump implemented the country-level strategy, Deutsche Bank economists led by Justin Weidner estimated in a Monday note. That’s a 3.3 percentage-point increase from the 1.5% effective rate U.S. imports had in 2022, according to the World Bank.

President Donald Trump on Thursday moved to tear up decades-old low U.S. tariff rates, raising them to match those of other countries and counteract other barriers to American goods to try to shrink a U.