import deposit

import deposit

a sum of money paid to the government by importers of a specified good on arrival of the good in the country prior to its eventual sale. Import deposits are used primarily to discourage imports as a means of protecting a country's BALANCE OF PAYMENTS.

import deposit

the requirement that importers of a product (see IMPORT) pay to the government a specified sum of money (calculated as a percentage of the value of the product) on arrival of the product in the domestic market prior to its eventual sale. Import deposits are used primarily as a means of assisting in the removal of a BALANCE OF PAYMENTS deficit. See BALANCE OF PAYMENTS EQUILIBRIUM, IMPORT RESTRICTIONS.
References in periodicals archive ?
And the Commission claims to have solved or made progress on 250 individual cases, from Japan's intellectual property protection to South Korea's rules on procurement of telecommunications equipment as well as its liquor taxes, from China's maritime services to the United States Helms-Burton anti-Cuba law, and from Poland's certification requirements to the Czech Republic's import deposit scheme.
Earlier this year, for instance, the Czech Republic revived a protectionist scheme ordering firms to pay a 20% import deposit on the value of all food-stuffs and consumer goods being brought into the market, all in a bid to prop up an ailing eastern European economy.
Roland Kohl, chairman and chief executive officer, added, "The change in the Chinese government's import deposit policy, which now allows the company to utilize its existing line of credit instead of a cash deposit, has had a direct positive impact on the company's metal stamping business and its cash flow.
The company also noted that the Chinese government recently reduced from 20 percent to 10 percent import deposits related to raw materials and exempted certain materials from any import deposits altogether.
The Czech government eliminated its controversial import deposit regulations; these measures, intended to reduce the trade gap, were unsuccessful.
The broad definition of NTMs includes certain para-tariff measures, import deposits and surcharges, variable levies, anti-dumping/countervailing duty actions (including investigations, duties, and undertakings), quantitative restrictions (including quotas/prohibitions, restraints under the Multi-Fibre Arrangement (MFA), non-automatic licenses, voluntary export restraints, state monopolies), import surveillance, automatic licenses, and certain price control measures.
Fortunately, through intense lobbying efforts by us and from various international manufacturing associations, the Chinese government has agreed to reduce by half the amount of required import deposits while exempting certain materials altogether.