Ad-valorem equivalent
A tariff that is not a percentage of the price of the product (e.g. dollars per ton) can be estimated as a percentage of the price — the ad valorem equivalent. (WTO, 2021)
A tariff that is not a percentage of the price of the product (e.g. dollars per ton) can be estimated as a percentage of the price — the ad valorem equivalent. (WTO, 2021)