Under president Clinton, the U.S. made a big mistake by stopping the practice of annual review of China’s most favored nation (MFN). The MFN status allowed China to export to the U.S. and only paid on average 2% in tariffs. This can be called the US’ version of Great Leap Forward. Now the US finally realized its mistakes and started to undo them. Expect the tariff level on China imports to increase further going forward, although they are still lower than what China levies on the U.S. exports to China.
