Like Soarora said, some sets proc on casting a taunt skill, but there is one gear set that is pvp oriented to enable a form of taunting. Vanguard's Challenge causes your taunts to debuff the target player, causing them to deal 35% less damage to any other players, but 35% more damage to you, encouraging the taunted player to target you down first while also helping keep your allies alive. But beyond that set and sets simply procing off skills with that tag, taunts don't do anything against players.

When i taunt people with emotes they usually tend to focus me and end up over committing and they die. It helps that im a proc bowblade.

Overall I think it's very effective.