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Modalities are the formulas, targets, or specific measures used to accomplish objectives in trade negotiations. An example of modalities in the current World Trade Organization agriculture negotiations would be a percentage phase-out over a specified time period of agricultural export subsidies or the use of the Swiss formula for tariff reduction and harmonization.
SR 632.10 – Customs Tariff Act, CTA 1986 1988 Regulates Customs Tariffs: 63 Finance -Customs Zolltarifgesetz, ZTG Loi sur le tarif des douanes, LTaD Legge sulla tariffa delle dogane, LTD SR 632.91 – Preferential Tariffs Act 1981 1982 Allows the granting of reduced tariffs for developing countries: 63 Finance -Customs Zollpräferenzengesetz
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In July 2023, the Swiss Franc reached its highest evaluation since 2015 compared to the USD and other major currencies. To keep inflation low in Switzerland in the post-COVID-19 period, the Swiss National Bank pursued a policy of keeping the Swiss currency hard due to the fact that many Swiss consumer goods are imported from Europe, the US and ...
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A very low tariff country with a rate T old of 2.3% would move to a T new rate of about 2.1%. Mathematically, the Swiss formula has these characteristics: As T old tends to infinity, T new tends to A, the agreed maximum tariff; As T old tends to 0, T new tends to T old i.e. no change in tariffs as it is already low; When T old is equal to A ...