Trade
Import Quota
Also known as: Import contingent, Quantitative restriction
A quantitative limit set by a government on the amount or value of a specific product that can be imported during a given period.
Also known as: Import contingent, Quantitative restriction
A quantitative limit set by a government on the amount or value of a specific product that can be imported during a given period.
An import quota is a quantitative restriction limiting the amount or value of a product that can be imported during a specific period. Unlike a tariff-rate quota (which allows imports at preferential tariffs up to a limit), an import quota completely prohibits imports exceeding the limit. It is one of the most restrictive non-tariff barriers and its use is limited by the WTO, though permitted in exceptional circumstances such as health protection, national security, or balance of payments preservation.
Tariff-Rate Quota
A maximum quantity of merchandise that can be imported or exported at a reduced or zero tariff during a given period, with the general tariff applying to quantities exceeding the quota.
TradeNon-Tariff Barrier
Any government measure other than a tariff that restricts, hinders, or increases the cost of international trade, including quotas, licenses, technical standards, sanitary requirements, and bureaucratic procedures.
TariffsTariff-Rate Quota (TRQ)
A quota or determined volume of goods that can be imported at a reduced preferential tariff; once the quota is exhausted, additional imports pay the higher general tariff.
RegulationsNon-Tariff Barriers (NTBs)
Measures other than tariffs that countries impose on international trade to protect health, safety, environment, and domestic industry.