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Article XXIV of the General Agreement on Tariffs and Trade in Light of Regional Trade Integration in Eurasia
ADB
2024.04.11
Based on the General Agreement on Tariffs and Trade (GATT), the brief explains how some of the economic union’s members raised the trade-weighted average of most-favorable nation rates in line with tariff rates of its largest constituent economy. Outlining how GATT may potentially discourage external tariff rises when customs unions are formed, it suggests countries adjust rates in line with the lowest levels among the customs union members to reduce the risk of welfare losses.