Tariff Equivalent

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Tariff Equivalent

A non-tariff barrier that has the same effect as a tariff. That is, a tariff equivalent discourages imports and promotes domestic industries and companies. Examples of tariff equivalents include import quotas or licensing restrictions. The GATT and the WTO have both tried to reduce tariff equivalents to promote more international trade.
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References in periodicals archive ?
Rubin equates transportation costs to tariff-equivalents. At $20 per barrel of oil, as seen in 2000, transportation costs were equivalent to a 3% U.S.