A tariff is a financial charge in the form of a tax, imposed at the border on goods going from one customs territory to another. Reduction of tariff would therefore enhance the competitiveness of imported goods and in turn benefit foreign manufacturers and exporters. Consumers would also benefit from the lower price of imported goods.
Hong Kong imposes no customs duties. As a highly externally oriented economy, Hong Kong’s exporters and manufacturers would benefit from reduction in tariffs and increase in the number of “bound” tariffs (i.e. commitment on not to increase tariffs above a specific level) by other Members of the World Trade Organization (WTO). These tariff liberalization measures would also make the world market more open, predictable and transparent.
As a result of our contributions to the previous multilateral and plurliateral tariff negotiations of the WTO, Hong Kong has in 2025 bound 47.5% of our tariffs at zero (including all agricultural goods), covering about 71.1% of our imports in 2024 value.
Please visit the WTO website for details on WTO Members' work on the further reduction of tariffs and non-tariff barriers for non-agricultural products.