Tariffs
Import Quota
Also known as: Import allocation, Tariff rate quota
The maximum quantity of a product that can be imported at a preferential tariff rate during a specific period; beyond this, the MFN rate applies.
Also known as: Import allocation, Tariff rate quota
The maximum quantity of a product that can be imported at a preferential tariff rate during a specific period; beyond this, the MFN rate applies.
An import quota is the maximum amount of a specific product that can enter the country at a preferential or reduced tariff rate during a given period. Once the quota is exhausted, additional imports must pay the full MFN tariff rate.
Tariff-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.
RegulationsExport Quota
A maximum quantity of a specific product that can be exported during a determined period, established by the government to ensure domestic supply or comply with international commitments.
TariffsPreferential Tariff Rate
A reduced or zero duty rate applied to imports from countries with which a free trade agreement or other preferential arrangement is in effect.
TariffsMost Favored Nation
A WTO principle requiring that any trade advantage granted to one member country must automatically be extended to all other WTO members.