Each race has choseable abilities that make them better at certain tradeskills in some way, if and only if they choose a specific racial tradition that becomes available at certain adventuring levels. Some of the bonsuses are a reduction in power use for your crafting abilities, some give increased success chance, and some give addition crafting skill (which improves your success chance).
GU40 and the launch of the Rise of Kunark expansion changed the racial traditions, and this guide has been updated to reflect these new racials.
ARASAI
Neriak Precision: +5 Artificing Skill (Jeweler)
Transmogrify +5 Transmuting Skill (Transmuter)
BARBARIAN
Brewmaster: +5% Success Chance for Provisioners
Herbology: +5 Chemistry Skill (Alchemist)
DARK ELF
Poison Crafter: +5% Success Chance for Alchemists
Pursuit of the Arcane: -10% Power Cost for Sage Reactions
DWARF
Weapon Forger: +5% Success Chance for Weaponsmiths
Master of the Tumpy Tonic: +5 Artistry Skill (Provisioner)
ERUDITE
Scholarly Pursuit: +5% Success Chance for Sages
Chemist: +5 Chemistry Skill (Alchemist)
FAE
Magical Teachings: +5 Scribing Skill (Sage)
Forest Knowledge: +5 Fletching Skill (Woodworker)
FROGLOK
Fervor of Marr: -10% Power Cost for Armorer Reactions
Zealotry of Marr: +5% Success Chance for Weaponsmiths
GNOME
Forge Invention: -10%? Post Cost for Weaponsmith Reactions
Chemical Calculations: +5% Success Chance for Alchemists
HALF ELF
Ayr’Dal Adornment: +5 Artificing Skill (Jeweler)
Gift of the Faydark: +5% Success Chance for Woodworkers
HALFLING
Niami’s Tutelage: +5% Success Chance for Provisioners
Pants Patcher: -10% Power Cost for Tailor Reactions
HIGH ELF
Gilding of Felwithe: +5 Artificing Skill (Jeweler)
Estoric Study: +5 Scribing Skill (Sage)
HUMAN
Diversity: +5 Tailoring, Artificing, Chemistry, Artistry, Sculpting,
Fletching, Scribing, Metalworking, and Metal Shaping Skill (All Primary Trades)
Clothier: +5% Success Chance for Tailors
IKSAR
Whipstitch: -10% Power Cost for Tailor Reactions
Dark Medicine: +5 Chemistry Skill (Alchemist)
KERRA
Gift of the Land: -10% Power Cost for Alchemist Reactions
Timber Shaper: +5 Fletching Skill (Woodworker)
OGRE
Oggokian Trade: -10% Power Cost for Weaponsmith Reactions
Rallosian Readiness: +5 Metal Shaping Skill (Armorer)
RATONGA
Poison Play: -10% Power Cost for Alchemist Reactions
Instruments of the Underfoot: +5 Metalworking Skill (Weaponsmith)
TROLL
Troll Gourmet: +5 Artistry Skill (Provisioner)
Mender of the Mire: +5% Success Chance for Armorers
WOOD ELF
Gift of the Faydark: -10% Power Cost for Woodworker Reactions
Faydwer Fashions: +5% Success Chance for Tailors
SARNAK
Weapon Production: -10% Power Cost for Weaponsmith Reactions
Carpenter's Touch: +5 Sculpting Skill (Carpenter)