Tariffs
Base Rate for Tariff Elimination
Initial tariff from which progressive elimination agreed in a free trade agreement is calculated.
Initial tariff from which progressive elimination agreed in a free trade agreement is calculated.
The base rate is the reference tariff from which tariff reduction begins in an FTA. It generally corresponds to the MFN tariff in effect at the time of negotiation.
Progressive Tariff Elimination
Gradual tariff reduction agreed in free trade agreements implemented in stages over several years.
TariffsTariff Phase-Out
The gradual and programmed reduction of import tariffs established in free trade agreements, bringing duties from their original level to zero over a determined period.
TradeFree Trade Agreement (FTA)
International agreement that eliminates or reduces tariffs and trade barriers between signatory countries.