<img src='https://news.cgtn.com/news/2024-11-12/APEC-s-average-tariff-rates-see-continual-decline-1ytg9vTNgis/img/c402ef1ad50a4a899221091abe0e71a3/c402ef1ad50a4a899221091abe0e71a3.gif' alt=''
The average tariffs among Asia-Pacific Economic Cooperation (APEC) member countries and regions have been falling over the years as trade liberalization progresses in the region. As the 2024 APEC Economic Leaders’ Week takes place in Peru, let’s examine the decrease in average tariffs among the 21 member economies since the group’s establishment in 1989.
