The WTO issued today (25 July) the 2024 edition of World Tariff Profiles, a joint publication of the WTO, International Trade Centre (ITC) and UN Trade and Development (UNCTAD). The publication provides comprehensive information on the tariffs and non-tariff measures imposed by over 170 countries and customs territories.
Summary tables, providing data by country/territory, list the average “bound” or maximum tariffs each economy can apply to its imports from other WTO members as well as the average tariffs actually applied. Tariffs are listed for both agricultural and non-agricultural sectors.
One-page profiles provide more detailed data for each economy, listing tariffs by product groups based on the 2023 Multilateral Trade Negotiations (MTN) Categories, the product classification system used by the WTO for trade statistics and policy analysis. The profiles also show the tariffs imposed on the economy's exports by its main trading partners.
Statistics on non-tariff measures, such as anti-dumping measures, countervailing measures and safeguards, are also provided by economy and product group to complement the tariff data.
This year's edition has as its special topic an in-depth analysis of tariffs on critical minerals essential for the electric vehicle (EV) value chain. It examines, in particular, the tariffs levied for cobalt, graphite and lithium, which are crucial for the production of EV batteries and other renewable energy technologies.
The analysis finds that tariffs on raw materials are generally lower than those on processed materials, which in turn are lower than on parts and components, with tariffs on final goods often being the highest of all. This tariff escalation has been a factor in preventing many developing economies from moving into higher-value processed products.
