Tariff rate, applied, simple mean, all products (%)

The simple mean of applied tariffs represents a broad overview of trade barriers across all goods, reflecting an average of the effectively applied tariff rates for products subject to duties. This calculation employs the Harmonized System, categorizing data at six- or eight-digit levels, and ensures robust mapping to Standard International Trade Classification (SITC) revision 3 codes for precise commodity grouping. By averaging the effectively applied rates within each category, the measure provides insights into trade restrictions while addressing gaps through the use of the most favored nation rates when necessary. Additionally, it incorporates ad valorem equivalents for specific tariffs, allowing for a more comprehensive understanding of the overall tariff landscape and its implications for international trade dynamics. Source: