Tariffs
Schedule of Tariff Concessions
Document each WTO member submits with bound tariff rates it commits to respect for each product.
Document each WTO member submits with bound tariff rates it commits to respect for each product.
The schedule of concessions is each country's formal commitment at the WTO on maximum tariff levels. It is negotiated in multilateral trade rounds.
Bound Tariff
Maximum tariff rate a country committed not to exceed at the WTO, established in its schedule of concessions.
TariffsMost Favored Nation
A WTO principle requiring that any trade advantage granted to one member country must automatically be extended to all other WTO members.
TariffsTariff Rate
The percentage or specific amount applied to the customs value of imported goods to calculate the general import tax.