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What is Understanding Bound and MFN Tariffs about?

MFN tariffs are the highest tariffs that WTO members charge one another unless they have a preferential trade agreement. Preferential trade agreements allow countries to give lower tariffs to partner countries than the MFN rate. Bound tariffs are specific maximum tariff commitments made by WTO members that applied tariffs cannot exceed and are used in trade negotiations.

Author

Mera

Language

EN