Bound Rate

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Bound Rate

A tariff, expressed as a percentage of the value of an import, that a country has agreed to levy on goods from another country. The tariff may not rise above the bound rate as long as the relevant treaty remains in force. It is also called a bound tariff or tariff binding. See also: World Trade Organization.
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continued with nearly the same overall average bound tariff level on
More generally, contingent protection might facilitate reductions in bound tariff rates, because contracting parties know in advance that they have a "safety valve" in case the bound tariff rates become excessively politically costly in the future (p.
The agency said India's bound tariff rates on farm products--the maximum rate allowed by the WTO--average 114 percent , among the highest in the world.
Mexico previously said it would impose a bound tariff rate of up to 210 percent on U.
taking the overall average of the bound tariff lines for developed and developing countries as their respective coefficients.
The bound tariff ceiling has been reduced from 10% to 7.
12 said the country is studying applying up to a 210 percent bound tariff rate to U.
The percentage of bound tariff lines for industrial products has risen from 78% to 99% for developed countries, from 21% to 73% for developing economies and from 73% to 98% for transition economies - results that provide a substantially higher degree of market security for traders and investors.
We note with great concern the Secretariat's assessment that nearly 50% of Kyrgyzstan's bound tariffs do not align with the Customs Union and would require re-negotiation and compensation to WTO Members," the Attache concluded.
At the commodity level, global average bound tariffs exceed 80% for dairy products and frozen meats.
The UR Agreement on Agriculture led to the conversion of non-tariff agricultural import barriers into bound tariffs, and those bound tariffs, together with subsidies to farm production and exports, have been scheduled for phased reductions.
The USTR contemplates not only exceeding its authority but violating two of the country's most substantive obligations under the GATT -- the requirement to provide most favored nation treatment for all imports and the obligation not to increase bound tariffs.