{
 "data_month": "2026-06",
 "disclaimer": "Research and commentary. Not investment advice.",
 "generated": "2026-08-24",
 "index": "ETRX",
 "name": "US Effective Tariff Rate Index",
 "next_print": {
  "data_month": "2026-07",
  "release": "2026-09-03"
 },
 "rulebook": "RULEBOOK.md",
 "series": [
  {
   "delta_bps": -10,
   "duty_free_share": 0.557182,
   "first_print_vintage": "2026-08-24",
   "id": "ETRX-US",
   "label": "United States \u2014 all imports ex 98/99 (headline)",
   "prior_rate": 0.072295,
   "rate": 0.071252,
   "rate_dutiable": 0.160907,
   "vintage_note": "backfill"
  },
  {
   "delta_bps": -8,
   "duty_free_share": 0.564829,
   "first_print_vintage": "2026-08-24",
   "id": "ETRX-US-INCL",
   "label": "United States \u2014 all imports incl 98/99 (companion)",
   "prior_rate": 0.068907,
   "rate": 0.068134,
   "rate_dutiable": 0.156569,
   "vintage_note": "backfill"
  },
  {
   "delta_bps": -96,
   "duty_free_share": 0.097754,
   "first_print_vintage": "2026-08-24",
   "id": "ETRX-STEEL",
   "label": "Steel \u2014 all origins (HS 72+73)",
   "prior_rate": 0.366646,
   "rate": 0.357074,
   "rate_dutiable": 0.395762,
   "vintage_note": "backfill"
  },
  {
   "delta_bps": 3,
   "duty_free_share": 0.983122,
   "first_print_vintage": "2026-08-24",
   "id": "ETRX-PHARMA",
   "label": "Pharmaceuticals \u2014 all origins (HS 30)",
   "prior_rate": 0.001361,
   "rate": 0.001626,
   "rate_dutiable": 0.096317,
   "vintage_note": "backfill"
  },
  {
   "delta_bps": 49,
   "duty_free_share": 0.163354,
   "first_print_vintage": "2026-08-24",
   "id": "ETRX-APPAREL",
   "label": "Apparel \u2014 all origins (HS 61+62)",
   "prior_rate": 0.216428,
   "rate": 0.221377,
   "rate_dutiable": 0.2646,
   "vintage_note": "backfill"
  },
  {
   "delta_bps": -8,
   "duty_free_share": 0.280673,
   "first_print_vintage": "2026-08-24",
   "id": "ETRX-CN-85",
   "label": "China \u2014 electronics (HS 85)",
   "prior_rate": 0.197064,
   "rate": 0.19623,
   "rate_dutiable": 0.272797,
   "vintage_note": "backfill"
  },
  {
   "delta_bps": -8,
   "duty_free_share": 0.253348,
   "first_print_vintage": "2026-08-24",
   "id": "ETRX-CN-84",
   "label": "China \u2014 machinery (HS 84)",
   "prior_rate": 0.240751,
   "rate": 0.239903,
   "rate_dutiable": 0.321304,
   "vintage_note": "backfill"
  },
  {
   "delta_bps": -59,
   "duty_free_share": 0.016732,
   "first_print_vintage": "2026-08-24",
   "id": "ETRX-CN-95",
   "label": "China \u2014 toys (HS 95)",
   "prior_rate": 0.125251,
   "rate": 0.11934,
   "rate_dutiable": 0.12137,
   "vintage_note": "backfill"
  },
  {
   "delta_bps": -101,
   "duty_free_share": 0.016929,
   "first_print_vintage": "2026-08-24",
   "id": "ETRX-EU-87",
   "label": "European Union \u2014 vehicles (HS 87)",
   "prior_rate": 0.14939,
   "rate": 0.139243,
   "rate_dutiable": 0.14164,
   "vintage_note": "backfill"
  },
  {
   "delta_bps": -43,
   "duty_free_share": 0.29468,
   "first_print_vintage": "2026-08-24",
   "id": "ETRX-MX-87",
   "label": "Mexico \u2014 vehicles (HS 87)",
   "prior_rate": 0.098304,
   "rate": 0.093979,
   "rate_dutiable": 0.133243,
   "vintage_note": "backfill"
  },
  {
   "delta_bps": -74,
   "duty_free_share": 0.291509,
   "first_print_vintage": "2026-08-24",
   "id": "ETRX-CA-76",
   "label": "Canada \u2014 aluminum (HS 76)",
   "prior_rate": 0.340563,
   "rate": 0.333157,
   "rate_dutiable": 0.470235,
   "vintage_note": "backfill"
  },
  {
   "delta_bps": 15,
   "duty_free_share": 0.538862,
   "first_print_vintage": "2026-08-24",
   "id": "ETRX-CA-44",
   "label": "Canada \u2014 wood (HS 44)",
   "prior_rate": 0.044476,
   "rate": 0.045974,
   "rate_dutiable": 0.099697,
   "vintage_note": "backfill"
  },
  {
   "delta_bps": -168,
   "duty_free_share": 0.25508,
   "first_print_vintage": "2026-08-24",
   "id": "ETRX-CA-87",
   "label": "Canada \u2014 vehicles (HS 87)",
   "prior_rate": 0.100373,
   "rate": 0.083568,
   "rate_dutiable": 0.112184,
   "vintage_note": "backfill"
  }
 ],
 "settlement": "first print settles; revisions are logged, never restated",
 "source": "US Census Bureau, International Trade API (imports for consumption)"
}