A ‘non-linear formula’ which reduces high tariffs, tariff peaks and tariff escalations. Higher tariffs will be subject to greater reductions compared to lower tariffs. A smaller coefficient would result in a deeper cut compared to a larger coefficient.
Swiss Formula :
C : coefficient to determine tariff reductions in each country;
t0 : The existing tariff rate for a particular country; and
t1 : The bound tariff rate for that country.
Ministry of International Trade and Industry
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