International Trade and Climate Change
International Trade and Climate Change
Global trade is typically tracked based on a unique Harmonized Commodity Description and Coding System (harmonized system, or HS) for each commodity. The harmonized system contains over 5,000 product codes. Under the system, each product traded is assigned a six-digit code. For researchers or policy makers, it is possible to track the volume of trade in clean technology (COMTRADE) and the corresponding tariffs levied across countries (UNCTAD TRAINS). Typically, each component of a particular technology should be associated with a different HS code.
World Bank Report on International Trade and Climate Change argues that clean technology trade would greatly benefit from a systematic alignment of harmonization standards. The volume of trade and the level of tariffs can be examined by identifying and tracking the unique HS code associated with each technology or product under the Harmonized Commodity Description and Coding System. For more details, see attachment.
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