Which countries have the lowest import tariffs?
Our friends at Trade New Analysis provide the answer with this handy chart for use in the economics classroom
The data comes from the World Trade Organisation and their latest World Tariff Profiles for 2017 which provides information on the tariffs and non-tariff measures imposed by over 170 countries.
Hong Kong and Singapore along with Macao have the lowest import tariffs.
New Zealand has among the lowest import tariffs in the world: 2% on average
Additional reading from the LSE:
How Brexit could harm African economies that trade with the UK and disrupt regional integration
Alan Beattie at the FT questions whether the Chinese One Belt One Road project will be a game changer for the balance of power in the world economy