Tariff rate, most favored nation, simple mean, all products (%)

The simple mean of most favored nation tariff rates provides an insightful overview of the average tariff burden on a country's imports, calculated across all products subjected to tariffs. This unweighted average is derived from detailed tariff line data categorized under the Harmonized System at six or eight digits, ensuring precision in classification. By matching these tariff rates with the Standard International Trade Classification (SITC) revision 3 codes, analysts can identify trends in trade policy and its impact on various commodity groups. Such analysis is essential for understanding the broader implications of trade regulations, as shifts in tariff rates can influence import volumes, competitive pricing, and international trade relations, ultimately shaping economic dynamics. Source: