„Tariff Rate Quotas“

What does Tariff Rate Quotas stand for?

(Customs) Application of a higher duty rate to imported goods after a specified quantity of the item has entered the country at a lower prevailing rate.

Source:

Mansfield, E. (2003). “Microeconomics: Theory and Applications.” 10th Edition. New York: W. W. Norton & Company. pp. 340-345.

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