Rather than a blanket duty, it’s a patchwork of Section 232 national security tariffs, Section 301 tariffs, exemptions, carveouts, and deals. Most Latin American countries will face an effective additional tariff rate of less than 3 percent. In practice, the effective Section 301 tariff rate is closer to 16.4 percent—still high, but well below China’s rate. By announcing a 12.5 percent tariff on Chinese imports, Washington is increasing the effective tariff rate by 6.4 percentage points. India has gone from having one of the highest effective tariff rates to one of the lowest—down from a rate of 50 percent under IEEPA to an additional effective tariff rate of just 3.6 percent.