Tariff Policy Distribution by Region for Chinese Companies' Overseas Expansion in 2024

Background

In Chinese companies' overseas expansion, tariff policies are key factors affecting costs and competitiveness. In 2024, major global trade regions exhibit different tariff policy characteristics.

Tariff Policy Distribution by Major Target Region

According to industry estimates, the tariff policy structure for Chinese companies' target regions is as follows:

• Southeast Asia (ASEAN): Approximately 35% of exports enjoy zero or low tariffs (e.g., under RCEP), with average tariff rate around 2.5%.
• European Union: About 25% of exports face standard tariffs, with average rate around 4.5%, and some sectors (e.g., electric vehicles) face countervailing duties.
• North America (US, Canada, Mexico): Roughly 20% of exports are subject to high tariffs, average rate about 8%, with some goods (e.g., steel, aluminum) up to 25%.
• Latin America: Around 10% of exports, average tariff rate about 6%.
• Africa: Approximately 5% of exports, average tariff rate about 7%, but some countries lower barriers through preferential tariffs.
• Other regions (Middle East, South Asia, etc.): About 5% of exports, average tariff rate around 3%.

Data Source and Notes

This distribution is estimated based on World Bank, WTO, and industry reports. Data are approximate and vary by product category.