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Protective tariffs are tariffs that are enacted with the aim of protecting a domestic industry. [ 1] They aim to make imported goods cost more than equivalent goods produced domestically, thereby causing sales of domestically produced goods to rise, supporting local industry. Tariffs are also imposed in order to raise government revenue, or to ...
In economics, the effective rate of protection ( ERP) is a measure of the total effect of the entire tariff structure on the value added per unit of output in each industry, when both intermediate and final goods are imported. This statistic is used by economists to measure the real amount of protection afforded to a particular industry by ...
The North American Free Trade Agreement ( NAFTA / ˈnæftə / NAF-tə; Spanish: Tratado de Libre Comercio de América del Norte, TLCAN; French: Accord de libre-échange nord-américain, ALÉNA) was an agreement signed by Canada, Mexico, and the United States that created a trilateral trade bloc in North America. The agreement came into force on ...
The Drug Tariff, also known as Drug Tariff price, is that amount that the NHS repays pharmacies for generic prescription medications. [1] It differs from prescription charges which are £9.90 per item/drug as of April 2024 unless exemptions apply. [2]
t. e. A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and policy that taxes foreign products to encourage or safeguard domestic industry.
A registration or licensing process to approve and permit the operation of a service, usually by a named organization or person; An inspection process or other form of ensuring standard compliance, including reporting and management of non-compliance with these standards; or. The setting of price controls in the form of price-cap regulation or ...
Public finance. Non-tariff barriers to trade ( NTBs; also called non-tariff measures, NTMs) are trade barriers that restrict imports or exports of goods or services through mechanisms other than the simple imposition of tariffs. Such barriers are subject to controversy and debate, as they may comply with international rules on trade yet serve ...
Protectionism, sometimes referred to as trade protectionism, is the economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulations. Proponents argue that protectionist policies shield the producers, businesses, and workers of the import ...