Tariffs
Common Tariff Nomenclature
Also known as: Common external tariff, CET nomenclature
A merchandise classification system adopted by a group of countries or trade bloc to apply uniform tariffs on imports from third countries.
Also known as: Common external tariff, CET nomenclature
A merchandise classification system adopted by a group of countries or trade bloc to apply uniform tariffs on imports from third countries.
A common tariff nomenclature is a merchandise classification system shared by members of a trade bloc or customs union, establishing uniform tariffs for imports from third countries. It is based on the Harmonized System but includes additional national or regional subdivisions. Examples include the EU's Combined Nomenclature and Mercosur's Common External Tariff. It allows free circulation of goods among member countries.
Harmonized System (HS)
An international 6-digit nomenclature developed by the WCO for classifying goods in international trade, used by over 200 countries worldwide.
TariffsCustoms Union
An agreement between two or more countries to eliminate tariffs among themselves and establish a common external tariff toward third countries.
TariffsTariff Nomenclature
A coded classification system used to identify products in international trade and assign corresponding tariffs and taxes.
TariffsMFN Tariff (Most Favored Nation)
The maximum tariff rate a WTO member country applies to imports from any other member, guaranteeing equal treatment without discrimination among trading partners.