Column 2 Rate

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Information about Column 2 Rate in free legal resources:

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Column 2 Rate

Summary of Column 2 Rate

The rate of duty applied by U.S. Customs to imports from nations not enjoying Most Favored Nation (read this and related legal terms for further details) status. The Column 2 rate is the statutory rate of duty provided in the Smoot-Hawley Act (read this and related legal terms for further details), enacted in 1930, which imposes rates often several times higher than those contained in Column 1. The statutory rates are applied only to imports from a limited number of communist countries. See tariff (Customs); tariff Schedules Of The United States.

(Main Author: William J. Miller)

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