World Trade Organization
Also called: WTO · Dünya Ticaret Örgütü
The international organisation that administers multilateral trade agreements, including GATT, the agreements on customs valuation, rules of origin, anti-dumping, subsidies and safeguards. Members commit to bound tariff rates and MFN treatment, with exceptions for preferential agreements.
In practice
WTO agreements set the limits within which national customs valuation and trade remedy rules operate.
EU
Türkiye
USA
UKRelated terms
- MFN duty
- The normal duty a WTO member applies to imports from other WTO members unless a preference or special measure applies. In the EU it is called the…
- Customs value
- The value of imported goods on which ad valorem duties are calculated. Almost all countries follow the WTO Customs Valuation Agreement, under which…
- Anti-dumping duty
- An additional duty imposed on imports sold at prices below their normal value in the exporting country, when this causes injury to domestic industry.…
- Safeguard measure
- A temporary restriction, such as extra duty or a tariff quota, applied to imports of a product from all sources when a sudden increase seriously…
- World Customs Organization
- An intergovernmental organisation based in Brussels whose members represent customs administrations worldwide. It manages the Harmonized System and…