Developing countries have higher tariffs
and greater tariff escalation, and initiate more
antidumping actions than do developed
countries. Developing countries, therefore,
have much to gain from trade liberalization.
For example, the World Bank has calculated
the possible outcome of trade liberalization
that would result from a maximum bound
tariff on agricultural goods of 10 percent in
industrial countries and 15 percent in developing
countries, a maximum bound tariff on
manufactured goods of 5 percent in industrial
countries and 10 percent in developing
countries, and the elimination of export subsidies,
domestic subsidies, and antidumping
measures. According to the World Bank, by
2015, annual global welfare growth would be
US $286 billion greater than it would have
been had no trade liberalization taken place.34