Juan Gabriel Vanegas López

Management and Economics Sciences Department, Tecnológico de Antioquia I.U

Colombia

jvanegas1@tdea.edu.co

Virtual protectionism: Overview of MFN tariffs and bound tariffs in South America

Jose Jaime Baena Rojas

Business School, Institución Universitaria CEIPA

Colombia

jose.baena@ceipa.edu.co

Abstract. The aim of this paper is to analyze the performance of the weighted averages of MFN tariffs and bound tariffs in South America. We compiled data from the WTO’s databases with the purpose of recognizing some areas and products with higher levels of protectionist tariff barriers. We concluded that MFN tariffs have dropped considerably among the countries after they participate in rounds of negotiations within a multilateral trading system. However, in special cases, some countries could significantly increase tariff barriers on some goods due to GATT provisions and this situation could also imply virtual tariff protectionism was significant.

Received: February, 2019

1st Revision: June, 2019

Accepted: October, 2019

DOI: 10.14254/2071-8330.2019/12-4/5

JEL Classification: F13, H20, N76

Keywords: WTO, MFN tariffs, bound tariffs, protectionism, South America