"Tariff water" and International Trade
The article deals with the analysis of the tariff regulation of international trade in terms of both the WTO commitments and regional trade agreements. In particular, the authors consider the issue of the difference between the bound and applied tariff rates, the so-called „tariff water“ and review the estimates of potential effects of trade policy uncertainty associated with this phenomenon offered in existing economic research literature. Theoretical and empirical studies show the negative relationship between the level of „tariff water“ and exports to the country. The article was written on the basis of the RANEPA state assignment research programme.