Europe Tariff Cut  

The world’s longest ever running trade argument ended in the month of December 2009 after the European Trade Union settled a deal to cut tariffs on import of banana. This deal will help the producers of banana in Latin America to pay less EU import tariffs. Such a move will make them competitive against the producers of Africa and the Caribbean who at present are not paying any tariffs.

This would bring down the price of banana by around 12 percent. The tariff rates will be downsized from 176 Euros ($256) per ton to initially by 148 Euros ($215) and subsequently in another next seven years the rates will be further reduced to 114 Euros per ton in a phased manner annually.More...


What Is Harmonized Tariff Code ?

What Is Harmonized Tariff Code

Tariffs play an important part for the government as it is method of generation of revenue. For an international trade affair, Harmonized Tariff Code, or HTC, plays a very crucial role in bringing a balance in the rates of tariffs of various goods that are being shipped across the countries.

One would realize that in the absence of Harmonized Tariff Code a lot of confusion will be created leading to malpractices and smuggling. All those countries which belong to the World Trade Organization are subjected to Harmonized Tariff Code categorization and are liable to follow the codes as stated in the rules.More...


What Is The Tariff Act ?

What Is The Tariff Act

The mass destruction after World War I left only sorrow and the world economy came down to minimum. Almost 10 years after World War I, it was still difficult to regulate he individual’s purchasing power to the industries productive capacity.

It was a very difficult task to answer. Also, to understand and give security to the US jobs along with safeguarding farmer’s interest during the economic crisis all over the world in 1929.More...


Who Benefits From A Tariff Or Quota ?

Who Benefits From A Tariff Or Quota

The primary aim of international trade is to remove the trade barriers and such a removal, enables entry of more number and variety of goods in the domestic market. Consumers get benefited as they get wide variety to choose from. Due to entry of foreign goods competition increases and also gives the domestic producers chance to transfer their goods across the borders.

Tariffs or quota are aimed at restricting free trade also it is a means of income for the government. Tariffs are imposed on foreign goods and the money thus collected goes in the hand of the government as a tax. However, a quota is an amount collected by all those suppliers whose goods are being shipped. The primary aim of imposing tariff are safeguarding domestic employment, safeguarding consumers, infant industries, national security and reprisal.More...





Europe tariff cut - What is harmonized tariff code? - Who benefits from a tariff or quota?



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