Financial
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*Brazil economic data
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*China economic data
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*Germany economic data
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*European Union economic data
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*France economic data
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*India economic data
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*Indonesia economic data
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*Italy economic data
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*Japan economic data
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*Canada economic data
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*Russia economic data
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*United Kingdom economic data
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*United States economic data
When analyzing the effects of preferential tariffs on trade flows you will need to be careful with assumptions about which tariff rate is actually applied to a particular import. The importing country will apply the MFN tariff if the product fails to meet the country's rules that determine the product's country of origin. For example, some former European colonies find it easier to satisfy the rules of origin under the Cotonou Agreement rather than the Everything But Arms (EBA) program, even where preferential tariffs are lower under the EBA.
WITS uses the concept of effectively applied tariff which is defined as the lowest available tariff. If a preferential tariff exists, it will be used as the effectively applied tariff. Otherwise, the MFN applied tariff will be used.