The World Trade Organization has helped to significantly reduce tariffs around the world.

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The primary objective of the World Trade Organization (WTO) is to facilitate free trade by reducing barriers such as tariffs, quotas, and subsidies. Since its inception in 1995, the WTO has been successful in promoting liberalization of trade by negotiating multilateral trade agreements, resolving trade disputes between member countries, and providing technical assistance and training to developing countries. As a result of the WTO's efforts, global average tariffs have declined from around 10% in the late 1990s to less than 5% in recent years, making it easier and cheaper for businesses to import and export goods across borders.

The World Trade Organization Has Helped to Significantly Reduce Tariffs