Executives complain, though, that red tape and other non-tariff barriers are a far bigger hurdle.
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So if we have established agreements in which both sides are supposed to open up their markets, we do so and then the other side is imposing a whole set of non-tariff barriers in place, that's a problem.
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What happened was, is a group, a subset of APEC countries came together and said let's see if we can create a high-standard agreement that is dealing with tariffs and non-tariff barriers to trade, but let's also incorporate a whole range of new trade issues that are going to be coming up in the future -- innovation, regulatory convergence, how we're thinking about the Internet and intellectual property.
He also pushed for non-tariff barriers be lifted and that a tough enforcement mechanism be implemented.
Mr De Gucht estimates that such barriers are equivalent to a traditional imports tariff of 10-20%.
First, with a few temporary exceptions, it converted all non-tariff barriers and unbound tariffs into bound tariffs.
GATT's formation but even the most open economies retain lofty barriers: for instance, America still charges a tariff of 14.6% on imports of clothing, five times higher than its average levy.
In Argentina, the government is bankrupt, tariff barriers on consumer goods have been hiked to 35% and a bank run has triggered capital controls.
Since 1999 a number of EU exports to North America have been subjected to various tariff barriers.
As tariff barriers come down, says Erik Sardain of Kleinwort Benson, over-capacity will remain a problem for many firms.
William Thomas, a senior American congressman, told delegates that rich-world subsidies and other non-tariff barriers, such as sanitation inspections, still block imports of African foodstuffs: crateloads rot in American ports.
Detroit ultimately, albeit reluctantly, acquiesced to a U.S.-South Korea trade pact touching on similar issues of non-tariff barriers to trade that Japan raises.
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