Bound Rate

(redirected from Bound Tariffs)

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.
Mentioned in ?
References in periodicals archive ?
The authority to set bound tariffs is vested in Congress.
A third argument against our instrument is that bound tariffs may be affected by industry value added, if they are set taking into consideration the level of development of individual industries, or if bigger industries have more power to push for higher bound tariffs.
If we compare the actual tariff level in Pakistan in the context of WTO rules, Table 1 shows that Pakistan tends to have relatively moderate MFN applied tariffs while it has a relatively high bound tariffs under the WTO.
9 percent for agricultural products and 12 percent for industrial goods well below the bound tariffs.
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.
After these cuts under the 'Swiss Formula' most of the bound tariffs in developing countries will be brought down to around 11%, and will in no case exceed 20%.
However, the cuts in those newly bound tariffs were minimal, 36% on average for developed countries, but, in effect, rather less.
low bound tariffs, high ceiling bindings, high proportion of low income or resource poor producers.
At the commodity level, global average bound tariffs exceed 80% for dairy products and frozen meats.
Bound tariffs refer to the level of import duties that a country has formally agreed not to exceed.
introduced quotas besides the bound tariffs to fulfill the minimum access rule.
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.