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

The weighted mean of applied tariffs reflects the average of effective tariff rates, adjusted by the share of imports for each product from various partner countries. Utilizing the Harmonized System for classification at the six- or eight-digit level, this metric provides a nuanced view of trade barriers. Tariff line data is meticulously aligned with Standard International Trade Classification (SITC) revision 3 codes, enhancing the precision of commodity groupings and import weight calculations sourced from the United Nations Statistics Division's Comtrade database. Furthermore, this analysis incorporates ad valorem equivalents wherever possible, thereby enriching the interpretation of tariff implications. In instances of unavailable effective rates, the most favored nation rate is applied, ensuring a comprehensive understanding of trade conditions across products. Source: