A tariff which a WTO member binds itself with a legal commitment not to raise tariff rate above a certain level is known as:

CA Foundation · Business Economics · PYQS · September 2024
A tariff which a WTO member binds itself with a legal commitment not to raise tariff rate above a certain level is known as:
(A) A. Bound tariff
(B) B. Applied tariff
(C) C. Specific tariff
(D) D. Most-favoured nation tariffs

Suggested Answer and Working Notes:

Correct Answer: Option (A)

A. Bound tariff

Topics: International Trade

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