Read this summary of the General Agreement on Tariffs and Trade (GATT), which evolved into the World Trade Organization (WTO) in 1995 and currently has 164 members. The WTO is a forum for governments to negotiate trade agreements and settle trade disputes. It operates an international system of trade rules. They are contracts that bind governments to keep their trade policies within agreed limits. Its goal is to "help producers of goods and services, exporters, and importers conduct their business while allowing governments to meet social and environmental objectives". (WTO)
Appendix B: Bound versus Applied Tariffs
The WTO agreement
includes commitments by countries to bind their tariff rates at an
agreed-upon maximum rate for each import product category. The maximum
tariff in a product category is called the bound tariff rate. The bound
tariff rates differ across products and countries: some agree to higher maximums, others agree to lower maximums. In general,
less-developed countries have higher bound tariff rates than developed
countries, reflecting their perception that they need greater protection
from competition against the more highly developed industries in the
developed markets.
However, some countries, especially those with
higher bound tariffs, set their actual tariffs at lower
levels than their bound rates. The actual tariff rate is called the
applied tariff rate. Table 1.4, "Bound versus Applied Average Tariffs,"
lists the average applied tariff rates compared to average bound tariffs
for a selected set of WTO member countries. The averages are calculated
as a simple average: namely, the ad valorem tariff rates (bound or
applied) are added together and divided by the total number of tariff
categories. These are not trade-weighted average tariffs.
Also, when
specific tariffs are assessed for a product, they are excluded from the
calculations. (Note that specific tariffs are set as a dollar charge per
unit of imports.) Also listed is the percentage of six-digit tariff
lines with a tariff binding. For products that have no tariff
binding, the country is free to set whatever tariff it wishes. The
countries are ordered from the highest to the lowest gross domestic
product (GDP) per person.
Country | Applied Rate (%) | Bound Rate (%) | % Bound |
---|---|---|---|
United States | 3.6 | 3.6 | 100.0 |
Canada | 3.6 | 5.1 | 99.7 |
EC | 4.3 | 4.1 | 100.0 |
Japan | 3.1 | 2.9 | 99.6 |
South Korea | 11.3 | 16.0 | 94.7 |
Mexico | 12.5 | 34.9 | 100.0 |
Chile | 6.0 (uniform) | 25.1 | 100.0 |
Argentina | 11.2 | 32.0 | 100.0 |
Brazil | 13.6 | 31.4 | 100.0 |
Thailand | 9.1 | 25.7 | 74.7 |
China | 9.95 | 10.0 | 100.0 |
Egypt | 17.0 | 36.8 | 99.3 |
Philippines | 6.3 | 25.6 | 66.8 |
India | 15.0 | 49.7 | 73.8 |
Kenya | 12.7 | 95.7 | 14.6 |
Ghana | 13.1 | 92.5 | 14.3 |
Table 1.4 Bound versus Applied Average Tariffs
- More-developed countries apply lower average tariffs than less-developed countries (LDCs).
- Average bound tariff rates are higher for less-developed countries. This means the WTO agreement has not forced LDCs to open their economies to the same degree as developed countries.
- The less developed a country, the fewer tariff categories that are bound. For the most developed economies, 100 percent of the tariff lines are bound, but for Ghana and Kenya, only 14 percent are bound. This also means that the WTO agreement has not forced LDCs to open their economies to the same degree as developed countries.
- For LDCs, applied tariffs are set much lower on average than the bound rates. These countries can raise their tariffs without violating their WTO commitments.
- China has lower tariffs and greater bindings than countries of similar wealth.
- Since the most developed economies have applied rates equal to bound rates, they cannot raise tariffs without violating their WTO commitments. WTO-sanctioned trade remedy actions can be used instead, however.