Tariffs have three primary functions:(1) to serve as a source of revenue; (2) to protect domestic industries; and (3) to remedy trade distortions (punitive function). The revenue function comes from the fact that the income from tariffs provides governments with a source of tax revenue. Wh...
On Wednesday, a report on the Oxford Economics also said that the new US administration's tariffs will likely exacerbate the "slowbalisation" globally. In contrast to uncertainty from the US, China's positive role for the global economy has been highlighted by major international economic organiza...
aBecause there is very high tariffs in Taiwan, and we will wholesale to other stores, so 10% commission is above our limit. If your side can not give us more commission, we may sale higher price to market, this is not what we are pleased to see. 由于有非常高关税在台湾和我们将批发对...
However, the RCEP is not a once off project. The newly inaugurated RCEP ministers' meeting and the recently concluded ASEAN Plus Summits have already started to discuss the establishment of a permanent secretariat and other necessary institutions. Such intention of institutionalization of the RCEP woul...
Ad valorem Tariffs Compound tariff, and Tariff rate quotas Specific tariff Specific tariff describes the fixed amount of money imposed on a physical unit of a product. It does not depend on the value of the imported or exported product; rather, it focuses on its unit (weighted). It is ...
President-elect Donald Trump has identified what he sees as an all-purpose fix for what ails America: Slap huge new tariffs on foreign goods entering the United States.
While tariffs are designed to give domestic players the home advantage, it does not always work that way. One such example is the US Steel & Aluminium Tariffs of 2018. The then US President Trump announced a 25% tariff on steel imports and a 10% tariff on aluminium imports. The aim was...
A harmonized tariff is the process by which the names and classification system of tariffs are standardized via the international market. All classification procedures for products traded between nations have the same descriptions no matter where they are shipped or delivered. This is true for import...
Depending on their scope and application, tariffs can be a source of tension between governments. If one country implements or raises tariffs on another country's goods, there's a risk that the second country will respond in kind. In recent years, the U.S. and China have increase...
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