Logo of the Union of International Associations (UIA)

ENCYCLOPEDIA

OF WORLD PROBLEMS

AND HUMAN POTENTIAL

  2. Global strategies
  3. Reducing tariffs

Reducing tariffs

Description

Reducing tariffs involves lowering or eliminating taxes and duties imposed on imported goods and services. This strategy aims to facilitate international trade, increase market access, and lower consumer prices. By removing trade barriers, it addresses issues such as trade distortions, limited competition, and economic inefficiency. The practical intent is to stimulate economic growth, enhance competitiveness, and foster cooperation between countries, ultimately benefiting producers, consumers, and economies through more efficient resource allocation.This information has been generated by artificial intelligence.

Claim

A reduction in tariff levels and a simplification of tariff structures would help raise developing country exports. Subsidies can affect the relative competitive positions of countries and have a distorting effect on developing countries. Developed countries should consider the effects of their fiscal policy choices on the needs of developing countries. In addition, unilateral measures, including measures with extraterritorial effects, risk having a negative effect on efforts to move towards a truly non-discriminatory and open trading system.

Effective tariff rationalisation has potentially significant economic, environmental and social impacts. The net economic impact is likely to be positive and significant, although some sectors in some countries will suffer, while others gain.

Broader

Liberalizing trade
Excellent
Reducing
Yet to rate

Metadata

Database
Global strategies
Type
(D) Detailed strategies
Subject
Content quality
Yet to rate
 Yet to rate
Language
English
1A4N
W9918
DOCID
13399180
D7NID
212893
Editing link
Official link
https://encyclopedia.uia.org/strategy/reducing-tariffs
Last update
May 12, 2022