tariff

Examples of tariff in the following topics:

• The General Agreement on Tariffs and Trade (GATT)

  • The General Agreement on Tariffs and Trade (GATT) is a multilateral agreement regulating international trade.
  • The General Agreement on Tariffs and Trade (GATT) is a multilateral agreement regulating international trade.
  • According to its preamble, its purpose is the "substantial reduction of tariffs and other trade barriers and the elimination of preferences, on a reciprocal and mutually advantageous basis. " GATT was negotiated during the UN Conference on Trade and Employment and was the outcome of the failure of negotiating governments to create the International Trade Organization (ITO).
  • GATT held a total of eight rounds, during which countries exchanged tariff concessions and reduced tariffs.
  • Outline the history of the creation of the General Agreement on Tariffs and Trade (GATT)

• The North American Free Trade Agreement (NAFTA)

  • The implementation of NAFTA on January 1, 1994 brought the immediate elimination of tariffs on more than one-half of Mexico's exports to the U.S. and more than one-third of U.S. exports to Mexico.
  • --Mexico tariffs would be eliminated except for some U.S. agricultural exports to Mexico that were to be phased out within 15 years.
  • NAFTA also seeks to eliminate non-tariff trade barriers and to protect the intellectual property right of the products.
  • The agreement opened the door for open trade, ending tariffs on various goods and services, and implementing equality between Canada, America, and Mexico.
  • NAFTA has allowed agricultural goods such as eggs, corn, and meats to be tariff-free.

• Tariffs, expropriation, and the technological environment

  • The most common form of restriction of trade is the tariff, a tax placed on imported goods.
  • Protective tariffs are established in order to protect domestic manufacturers against competitors by raising the prices of imported goods.
  • Not surprisingly, US companies with a strong business tradition in a foreign country may support tariffs to discourage entry by other US competitors.

• Economics

  • Tariffs also tend to be anti-poor, with low rates for raw commodities and high rates for labor-intensive processed goods.
  • In general, for a given level of protection, quota-like restrictions carry a greater potential for reducing welfare than do tariffs.
  • Tariffs, quotas, and non-tariff barriers lead too few of the economy's resources being used to produce tradeable goods.
  • In contrast to tariffs, export subsidies lead to an over allocation of the economy's resources to the production of tradeable goods.

• Trading blocs and agreements

  • The North American Free Trade Agreement (NAFTA) further boosts export sales by enabling companies to sell goods at lower prices because of reduced tariffs.
  • No tariffs exist on goods sold between member nations of NAFTA.
  • However, a uniform tariff is assessed on products from countries not affiliated with NAFTA.
  • Customs Unions maintain common tariffs and rates for nonmember countries.

• The Argument Against Barriers

  • Tariffs also tend to be anti-poor, with low rates for raw commodities and high rates for labor-intensive processed goods.
  • Protection of import-competing industries with tariffs, quotas, and non-tariff barriers can lead to an over-allocation of the nation's scarce resources in the protected sectors and an under-allocation of resources in the unprotected tradeable goods industries.

• Technological Barriers

  • U.S. companies, farmers, ranchers, and manufacturers increasingly encounter non-tariff trade barriers in the form of product standards, testing requirements, and other technical requirements as they seek to sell products and services around the world.
  • As tariff barriers to industrial and agricultural trade have fallen, standards-related measures of this kind have emerged as a key concern.

• Other factors affecting supply chain management

  • Government regulations, tariffs, and environmental rules provide challenges as well.

• Importing

  • Import of goods normally requires the involvement of customs authorities in both the country of import and the country of export; those goods are often subject to import quotas, tariffs, and trade agreements.

• Direct Investment

  • FDI is done for many reasons including to take advantage of cheaper wages in the country, special investment privileges, such as tax exemptions, offered by the country as an incentive to gain tariff-free access to the markets of the country or the region.