WORLD: OECD says impact of WTO tariffs have 'been limited'
A report has been released by the OECD, on the impact on the trade in agricultural goods of the WTO's Uruguay Round. It says that its effect "has been limited," noting that: "agricultural tariffs remain high." The report says that average bound tariffs on agricultural products are still over 40%, compared to 4% for manufactured goods. Added the report: "Complicated tariff structures in force in many OECD countries. Price support levels remain high, particularly for sensitive commodities such as rice, milk and sugar, despite commitments for reductions."
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