News 09 Apr. 2024
Curtis Announces New Partners and Counsels Across Offices in Spring 2024
more
News 25 Jan. 2024
Counsel Mohannad A. El Murtadi Suleiman Addresses “Africanization” of International Investment Law
Event 18 Aug. 2023
Partner Borzu Sabahi Speaks at FDI Moot Shenzhen
News 25 Jul. 2023
Partner Eric Gilioli Ranked in Top 10 Influential Energy & Natural Resources Lawyers in Kazakhstan in Business Today
Client Alert 28 Dec. 2023
U.S. to Impose Secondary Sanctions on Non-U.S. Banks For Financing Russia’s Defense Industry
Event 22 Aug. 2023
Partner Dr. Claudia Frutos-Peterson to Speak at Arbitration and ADR Commission of the ICC Mexico
Event 11 Jul. 2023
Partner Elisa Botero Speaks on the Role of the ICC in Investment Disputes
News 15 Aug. 2023
Legal Reader Publishes Article on Dr. Majed Alotaibi’s Arrival as Senior Counsel in Curtis’ Riyadh Office
News 31 Jul. 2023
Curtis Welcomes Senior Saudi Advisor, Dr. Majed Alotaibi, to its Riyadh Office
News 24 Aug. 2023
Curtis Attorneys Quoted in CoinDesk on FTX Founder Sam Bankman-Fried’s Strategy Ahead of His Criminal Trial
Client Alert 26 Jun. 2024
The EU Adopts its 14th Sanctions Package Against Russia
Client Alert 03 May. 2024
The EU Adopts the Directive on Definition of Criminal Offences and Penalties for Violations of EU Restrictive Measures
news
Anna Kozmenko Appointed to the ICC International Court of Arbitration
Curtis Elevates Jacopo Cordiano to Partner in the Milan Office
International Trade
No, a quota is not a tariff. In the international trade context, a quota is a limit on the quantity of a particular good or product that can be imported into a nation. Quotas can be country-specific or global in scope. Tariffs, on the other hand, are a tax on goods or products entering a country. Generally, there is no limit to the quantity of products that can be imported under a tariff, as long as the tariff is paid for each item.
An Import tariff rate quota is a combination of tariffs and quotas. A tariff rate quota (TRQ) applies to goods at a specific (low) rate up to a predetermined quota amount. Once the quota amount of the goods has been imported, the tariff rate increases to a higher amount. In other words, goods can be imported at a low tariff rate until the quote amount has been reached, at which point the tariff rate increases substantially.
Tariffs are taxes that governments place on imported goods of a specific type. Quotas are import limits that prevent more than a set amount of a specific good from being imported into a country. An embargo is a ban on the trade of a particular good, category of good, or with a specific country. The three types of protective measures may act in concert with one another or overlap in specific situations.
Daniel Porter
Partner
ITC Injury Proceedings
WTO and International Trade Dispute Settlement
Trade Remedy Practice
Economic Sanctions
Washington, D.C.
+1 202 452 7373
Beijing
+86 10 8564 6200
Brussels
+32 2 313 37 31
Geneva
+41 22 718 3500
We use cookies on our website to enhance your browsing experience, match your interests and assess our website performance. We do not share information with any third-party for marketing purposes. Please view our privacy policy to learn more about the use of cookies on our website. By continuing to browse our website, you consent to our use of cookies.