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United States Proposes A Tariff-Free World Tariffs = Taxes On families, business, and the poor.

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Presentation on theme: "United States Proposes A Tariff-Free World Tariffs = Taxes On families, business, and the poor."— Presentation transcript:

1 United States Proposes A Tariff-Free World Tariffs = Taxes On families, business, and the poor

2 All Consumer and Industrial Products U.S. Proposal To Eliminate Tariffs Phase 1: Tariff Equalizer Phase 2: All Go to Zero

3 Consumer & Industrial Tariffs WTO Average Allowed Tariffs

4 PHASE 1: Cut and Harmonize Eliminate all tariffs of five percent or less Eliminate tariffs on highly-traded goods Use The Tariff Equalizer – a formula which cuts all remaining duties to less than eight percent Between ….

5 PHASE 2: All Together To Zero All countries would take tariffs to zero A parallel process will identify and seek to eliminate key non-tariff barriers Between ….

6 All Consumer and Industrial Products U.S. Proposal To Eliminate Tariffs Phase 1: Tariff Equalizer Phase 2: All Go to Zero

7 Benefits to Developing Countries Help lift 300 million people from poverty More than $500B income gain Most of the gain comes from liberalized South- South trade Of a Tariff-Free World Tariffs On Industrial Goods Imposed by Developing Countries

8 Benefits for America An $18 billion tax cut for working families U.S. economy could expand by $95 billion Average family of 4 would gain $1,600 per year Of a Tariff-Free World

9 A Tariff-Free World Every corner store in America becomes a duty-free shop for working families.


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