Variable Levy

Variable Levy

A tariff that changes in such a way that the domestic price of an imported good always remains the same (or almost the same). A variable levy increases when the raw price of the import drops and decreases when the raw price rises.
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The variable levy rate will be lower across all property categories than the 2013-14 rates.
19) Where the expected benefit from tariff protection is positively related to world price variance, gradual liberalization in industries that receive redundant protection could be facilitated by switching to a variable levy that reduces domestic price fluctuation.
A zero quota or a variable levy can also be used to provide prohibitive levels of protection, but each has certain liabilities.
Quantitative restrictions, along with the variable levy, are commonly referred to as "hard-core" NTMs.
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