WTO Releases World Tariff Profiles

The World Trade Organization, along with the International Trade Centre and the United Nations Conference on Trade and Development, released the World Tariff Profiles 2021 July 14 -- a comprehensive publication on the tariffs and nontariff measures enacted by over 170 countries and customs territories. The publication includes summary tables that allow comparisons across countries of the average or maximum tariff each economy puts on its imports and the average in-practice tariff rate. Each country or customs territory also has its own one-page profile with breakout lines for each product group. The profiles report, in a new section, also breaks down nontariff measures, looking at three indicators of NTMs (frequency index, coverage ratio and prevalence score). Almost 60% of imported goods need to comply with at least one NTM, leading to almost 80% of imported goods by value being subjected to NTMs, the report said.