Bound tariff rate

From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by InternetArchiveBot (talk | contribs) at 16:09, 6 November 2016 (Rescuing 1 sources and tagging 1 as dead. #IABot (v1.2.6)). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

The Bound tariff rate is the most-favored-nation tariff rate resulting from negotiations under the General Agreement on Tariffs and Trade (GATT) and incorporated as an integral component of a country’s schedule of concessions or commitments to other World Trade Organization members. If a country raises a tariff to a higher level than its bound rate, those adversely affected can seek remedy through the dispute settlement process and may obtain the right to retaliate against an equivalent value of the offending country’s exports or the right to receive compensation, usually in the form of reduced tariffs on other products they export to the offending country[citation needed].

External links

References

  • Public Domain This article incorporates public domain material from Jasper Womach. Report for Congress: Agriculture: A Glossary of Terms, Programs, and Laws, 2005 Edition (PDF). Congressional Research Service.