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

The simple mean of applied tariffs represents the unweighted average of the effective tariff rates applied across all manufactured goods, calculated using comprehensive trade classifications defined by the Harmonized System at varying levels of detail. This indicator captures the overall trade policy climate for manufactured products by averaging effectively applied tariffs within defined commodity groups, specifically focusing on SITC revision 3 sections 5-8 while omitting division 68. In instances where specific rates are unavailable, the most favored nation (MFN) tariff rates are utilized to ensure a complete picture. Additionally, efforts are made to convert specific tariffs into ad valorem equivalents, enhancing comparability across different trade contexts and allowing for a nuanced understanding of the tariff landscape for manufactured goods. Source: