INTB 1203 Chapter Notes - Chapter 7: Scandium, Rare Earth Element, 18 Months
16 Dec 2016
School
Department
Course
Professor
Document Summary
Long-term consequences: tariffs: taxes levied on imports or exports. (consumers) Specific tariff: tariff levied as a fixed charge for each unit of good imported. Ad valorem tariff: a tariff levied as a proportion of the value of an imported good. Voluntary export restraint (ver): a quota on trade imposed from the exporting country"s side, instead of the importer"s; usually imposed. Tariff rate quota: lower tariff rates applied to imports within the quota than those over the quota. at the request of the importing country"s government. Subsidies: payments made by the government to producers of a good or service, which is intended to lower their costs. Local content requirement: a requirement that some specific fraction of a good be produced domestically. Antidumping policies: designed to punish foreign firms that engage in dumping and thus protect domestic producers from unfair foreign competition. Dumping: selling goods in a foreign market for less than their cost of production or below their fair market value.
