Tariff Reductions in African Trade Deal Could Boost Economic Growth and Integration
Tariffs, which are taxes on imported goods, play a big role in trade agreements among African countries. These tariffs help countries collect money and control what goods come into their countries. When countries make deals to lower tariffs, they also focus on other rules like standards and competition. Some countries might use tricky rules to protect their own businesses. Even though tariffs are getting lower worldwide, other rules beyond tariffs are becoming more important in trade deals. These extra rules can make trade smoother or harder, depending on how they are used. So, in African trade agreements, reducing tariffs is crucial, but it's also important to pay attention to these other rules to make sure trade between countries goes well.