Duty

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Related to Import tariff: Import quota, Export Tariff

Duty

A tax on imports, exports, or consumption goods.

Duty

A tax that a country imposes on its imports and, occasionally, exports. A duty exists to make an import more expensive and to thereby encourage people to buy goods produced in their own country. Proponents of their use argue that duties discourage outsourcing of jobs to other countries and make the country more self-sufficient, but most economists agree that they are economically inefficient and some contend that they may ultimately harm the people they are intended to help. A duty is also called a tariff. See also: WTO, International trade, Globalization.

duty

See tariff.
References in periodicals archive ?
Regarding preferential import tariffs, particularly the implementation of the CPTPP Agreement, the Special Preferential Import Tariff consists of 10,647 tariff lines at the 8-digit level and 350 tariff lines are detailed at the level of 10 numbers and the list of goods and taxes special import incentives for used cars applying tariff quotas to implement the CPTPP Agreement.
He disclosed that the decision of imposing a temporary 25% import tariff on steel rebar was a good decision and in favour of the Egyptian industry but the other decision to impose a 15% import tariff on billets was faulty because no tariff is supposed to be imposed on raw material.
However, should retaliatory actions continue to escalate and the Section 232 investigation for automobiles and parts lead to additional US import tariffs, risk to our assumptions could rise.
The Philippines has been lobbying for eased import tariffs over agriculture products being exported from the country to South Korea for several years now.
The interpretation of power delegated to the US president and/or the US trade representative can create some room for manoeuvre as the unilateral imposition of import tariffs has just demonstrated.
China's decision comes in the wake of the US pledge to introduce import tariffs on $34 billion of Chinese goods on July 6.
In 2001 the import tariff was reduced from 18.91 percent to 8.92 percent that increase the export by 170 percent.
market access will widen further in 2019, as the import tariff on Australian wine will become 0.
Global Banking News-March 6, 2018--Goldman opposes Trump's import tariffs plan
As per the court ruling, import tariffs on cars should be rolled back to what they were before December 30.
A 220% import tariff effectively make it impossible for Bombardier to sell the C Series in the US against its major rivals such as Boeing.
The increase in the import tariff on soybean meal from zero to 11% during the last year and 10% this year, leading to a total 21% effective from July 1, is generally expected to reduce soybean meal imports with higher imports of soybeans.