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Sites Import Quotas An exporter may find that the foreign country restricts mostly imports not only by means of tariffs but also by qualitative measures. These usually take the form of import quotas for each particular product. Once the quota for the period has been filled, no more import licenses are issued.
There are three main types of import quota in use today:
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Secrets of International Trade Import Export
Customs Valuation Procedures
One guilty country of such practice was Canada. Its previous Customs code allowed it to impose duty levels not directly related to the price paid for the goods but to what is termed "fair market value". This was branded by other countries, particularly the United Stated, as a non-tariff barrier and an unfair protective device. It was defended by Canada as a necessary measure to prevent predatory export pricing by foreign firms and the setting of artificially low transfer prices on goods sold to Canadian subsidiaries by foreign multinational parent corporations.Canada agreed to adopt in 1984 the standardized GATT customs valuation procedure. This has involved a switch from "fair market value" to "international transaction price" as the basis for assessment of import duties, at the Tokyo round of GATT trade negotiations that ended in 1979 Voluntary Restraints - Sometimes, when one of its domestic industries is being badly hurt by foreign imports, a government will undertake to persuade the exporting countries to "voluntarily" restrict their exports. Unilateral Quotas - These are quotas set by a country without pervious consultation or negotiation with others. Such a quota may be global or allocated. |
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