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| Topic: |
Business
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| Number of pages / Number of words: |
15 / 4165 |
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They are the means of keeping the foreign goods out of domestic market while abiding by the multilateral agreements that the country has signed through the WTO (World Trade Organization).
Various type of Tariff barriers in international trade
Tariff can be expressed in absolute or in relative terms, they may be discriminatory or non-discriminatory, they can be imposed on imports or on export, and they may be promoted by consideration of revenue or protection to domestic industries...
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Among them several are discussed in bellow:
Specific Tariff: Specific tariff are those which are assessed on the basis of the physical weight of the product which is imported. They are expressed in absolute term of dollar and cent per unit.
Ad valorem Tariff: Ad valorem is a Latin word which means “on the value†when duty is levied on the basis of the value of the product measured by the money price that is called ad valorem tariff...
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