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Tariff escalation

Higher import duties on semi-processed products than on raw materials, and higher still on finished products. This practice protects domestic processing industries and discourages the development of processing activity in the countries where raw materials originate.

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Tariff quotas

Application of a higher tariff rate to imported goods after a specified quantity of the product has entered the country at a lower prevailing rate. See quota.

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Tariff rate quota

A tariff-rate quota is a combination of an import tariff and an import quota in which imports below a specified quantity enter at a low (or zero) tariff and imports above that quantity enter at a higher tariff. A tariff quota has…

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Tariff regime

A tariff regime is a set of tariff rates covering all products for a particular importing country, exporting country, preferential status (specific preferences or MFN/General rates) and time period.

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Tax haven

A country, state or territory that offers foreign individuals and businesses little or no tax liability in a politically and economically stable environment. Tax havens also provide little or no financial information to foreign tax authorities. Individuals and businesses that…

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