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Quota

In international trade a limitation of the quantity of goods that may be imported into a country from all countries or from specific countries during a period of time. There are to type of quotas:

  • Global quota. Permit a limited number of unit of specified merchandise to be entered or withdrawn for consumption in a country during specified periods of time.
  • Tariff-rate quotas. Permit a specified quantity of merchandise to be entered or withdrawn for consumption in a country at a reduced tariff during a specified period of time.

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