Related Entries of the International Encyclopedia:

1. Market Power Market Power and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Market Power: The ability of an individual firm to exert control over prices prevailing in the markets for its products or services. The highest [...]...
2. Price Discrimination Price Discrimination and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Price Discrimination: The practice of charging unequal prices to different buyers of products that are essentially identical, when such [...]...
3. Differentiation Differentiation and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Differentiation: A key element in firms' competitive advantage. Refers to market conditions in which a product can vary in some [...]...
4. Economic Vulnerability Economic Vulnerability and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Economic Vulnerability: In the context of trade relations, the proportion of a country's GNP accounted for by exports and imports [...]...
5. C.I.F. C.I.F. and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of C.I.F.: An abbreviation (for "costs, insurance, and freight") used in international trade statistics and sales contracts. Transactions on [...]...
6. F.O.B. F.O.B. and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of F.O.B.: An abbreviation (for "free on board") used in international trade statistics and sales contracts; a method of valuing traded goods [...]...
7. Competitive Performance Competitive Performance and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Competitive Performance: The measurable results of competitiveness --i.e., the outcome of a country's or a firm's efforts in [...]...
8. Vertical Restraints Vertical Restraints and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Vertical Restraints: Anticompetitive restraint of trade arrangements imposed by a firm at one stage in a chain of transactions --usually [...]...
9. Predation Predation and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Predation: In international trade contexts, an aggressive pricing strategy in which a foreign producer prices below cost to drive domestic firms [...]...
10. Export Subsidy Summary of Export Subsidy A direct payment, tax relief, or other incentive provided by a government to encourage export sales. The use of such devices is apt to be regarded as undesirable by the importing nation and may result in the imposition of Countervailing Duties (read this legal term [...]...
11. Quota Rents Quota Rents and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Quota Rents: The increase in profits that accrue to an import dealer (under an import quota) or an exporting firm (under an export quota or [...]...
12. Market Disruption A condition in which foreign imports of a given product increase in quantity so rapidly as to cause, or threaten to cause, material injury to a competing domestic industry. A finding of market disruption before the International Trade Commission may result in retaliatory actions against the [...]...
13. International Trade Patterns Ricardian Model and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Ricardian Model: A theory for explaining international trade patterns in terms of technological differences among countries and resulting [...]...
14. Tying Contract Tying Contract and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Tying Contract: (Also known as a tie-in contract or bundling.) A restraint of trade ~ arrangement by which a product can be purchased only [...]...
15. Forfeiting Forfeiting and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Forfeiting: A means of financing foreign trade based upon the transfer of debt obligations arising from the sale of goods and services, usually exports....
16. Dumping Margin In those instances where a product has been dumped, that is, sold abroad at a price below the fair market value in the country of origin, the dumping margin is the difference between the home market price and the price at which the goods are sold abroad less incidental charges, such as export [...]...
17. F.A.S. F.A.S. and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of F.A.S.: An abbreviation (for "free alongside") used in international trade statistics and t sales contracts; a method of valuing traded [...]...
18. Market Structure Market Structure and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Market Structure: Refers to the structure of an industry or market, as reflected in the number and size distribution of sellers and buyers, [...]...
19. Dual-Use Dual-Use Goods (or Technology) and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Dual-Use Goods (or Technology): Refers to products or the technology embodied in those products that are intended primarily [...]...
20. Trade Balance J-Curve and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of J-Curve: The expected adjustment path in a country's trade balance following a currency depreciation or devaluation. Because a change in the [...]...
21. TSUSA TSUSA and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of TSUSA (Tariff Schedules of the United States, Annotated): The classification system in which US import data are recorded according to 10,500 [...]...
22. Schedule B Schedule B and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Schedule B: The classification system in which US export data are recorded according to 4,500 seven-digit product categories. Schedule E is the [...]...
23. Absolute Advantage Absolute Advantage and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Absolute Advantage: The ability of a country to supply a particular product or class of goods at lower costs than competing nations. See [...]...
24. Competitive Competitive and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Competitive: As applied to internationally traded goods, refers to a country's or a firm's products being preferred by a significant [...]...
25. Economic Rent Economic Rent and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Economic Rent: The gain to a producer or resource owner resulting from a trade barrier or other restriction of supply that leads to a higher [...]...
26. Customs Trade Regulations Law of Similars and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Law of Similars: Regulations limiting importation of a product or altering its tariff treatment if a "similar" [...]...
27. Constructed Price A value for customs purposes that ignores the invoice price of the merchandise but is derived by computing the cost inputs of the product (materials plus reasonable manufacturing expenses in the country of origin plus a profit factor), to which are added the normal costs associated with preparing th......
28. Customs Territory The geographical area of a country, its possessions, and surrounding waters within which the customs authority is empowered to impose duties and controls upon foreign merchandise entering therein. The customs territory need not necessarily incorporate all the territory over which a nation [...]...
29. Tariff Schedules Tariff Schedules of the United States, Annotated, and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of TSUSA (Tariff Schedules of the United States, Annotated): The classification system in which US import data [...]...
30. Deadweight Loss Deadweight Loss and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Deadweight Loss: The net cost to society due to market imperfections or government interventions such as trade restrictions --i.e., losses by [...]...
31. Market Performance Market Performance and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Market Performance: The principal focus of competition policy, market performance refers to the degree to which a particular industry or [...]...
32. Intra-Industry Trade Inter-Industry and Intra-Industry Trade and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Inter-Industry and Intra-Industry Trade: Inter-industry trade involves exchanges between countries that link [...]...
33. Arm's Length Pricing Arm's Length Pricing and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Arm's Length Pricing: The price at which a particular product or service would sell in a transaction between unrelated buyers [...]...
34. Customs Classification Customs Classification and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Customs Classification: The determination of the appropriate category in which a traded product is classified for [...]...
35. Standard International Trade Classification A system for capture of international trade statistics developed under the auspices of the United Nations. The original SITC was adopted by the Economic and Social Council of the United Nations in July 1950. By 1960 many nations were compiling data on a commodity basis; coincidental with the [...]...
36. Export Trading Company Export Trading Company and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Export Trading Company: (Also known as an export management company.) A private firm that provides related-related services to other [...]...
37. Fair Value Fair Value and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Fair Value: The benchmark against which selling prices of imported merchandise are compared in adumping investigation. In US [...]...
38. Gross Domestic Product Summary of Gross Domestic Product The aggregate value, expressed in monetary terms, of all goods and services produced within a national economy during a given time period, usually one year.(Main Author: William J. Miller) Gross Domestic Product (gdp) (in the Human Development [...]...
39. Superdeductive A procedure authorized by U.S. Customs in ascertaining the deductive value of merchandise for assessment of ad valorem duties; deductive valuation is an alternative valuation method specified in the customs valuation agreement (...
40. Tokyo Declaration The pronouncement of a 1973 gathering in Tokyo of foreign, finance, and trade ministers of the major industrial nations, meeting to discuss economic and trade problems. The joint communique issued by the ministers called for increased trade through the elimination of tariff and nontariff [...]...
41. Bounty Bounty or Grant and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Bounty or Grant: A form of subsidy. As used in US trade legislation, the term refers to an economic inducement by a [...]...
42. Competitive Advantage Competitive Advantage and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Competitive Advantage: (Not the same as comparative advantage.) A market position established either by providing comparable buyer [...]...
43. Technology Driver Technology Driver and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Technology Driver: A product with a relatively simple design which a manufacturer may produce in high volume in order to hone its skills [...]...
44. Trade War Introduction to Trade War Trade War, economic tug-of-war between nations in which each side tries to limit the other's exports while flooding the other's market with its own goods." (1) Resources Notes and References Information about "http://lawi......
45. Fair Market Value The value an imported product would fetch, under similar circumstances of sale, were the goods sold in the country of origin. Customs authorities are usually interested in the fair market value of imported merchandise inasmuch as sales below such value may serve as the basis of a Dumping (...
46. Customs Cooperation Council An international organization established for the purpose of harmonizing the customs procedures and techniques of member countries. The agency is concerned with the mechanics of customs administration and is not involved in matters relating to tariff levels or similar substantive economic [...]...
47. Dual Pricing The sale of an identical product at different prices in different markets.......
48. CIS Economic Union CIS Economic Union in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of CIS Economic Union: A prospective customs union among most members of the Commonwealth of Independent States, intended to restore economic [...]...
49. US Customs Service US Customs Service in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of US Customs Service: An agency within the US Department of the Treasury charged with enforcement of the tariff acts and other laws relating [...]...
50. Export-Led Growth Export-Led Growth and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Export-Led Growth: A macroeconomic strategy focusing on expansion of the export sector --such as through export subsidies or competitive [...]...
51. Variable Levy Variable Levy and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Variable Levy: An import duty that is subject to alteration as world market prices change, designed to ensure that the [...]...
52. East- West Trade A general reference to trade between the industrial nations of the West, particularly those nations that are members of the Organization for Economic Cooperation and Development ("https://lawin.org/list-of-international-trade-law-terms/">read this and related legal terms for [...]...
53. Structural Change Structural Change and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Structural Change: Changes in the relative importance of different sectors of an economy over time, usually measured in terms of their [...]...
54. Competitiveness Competitiveness and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Competitiveness: The ability of a nation or firm to sell competitive goods or services in international trade. Several aspects of [...]...
55. Shakeout Shakeout and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Shakeout: A condition that may occur as a result of innovation or technological change in a competitive industry. Because the introduction of new [...]...
56. Rent-Seeking Rent-Seeking and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Rent-Seeking: In international trade contexts, refers to the economically unproductive practice of individuals, firms, and industries investing [...]...
57. Cross-subsidization Cross-subsidization and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Cross-subsidization: The use of financial resources accumulated by a multinational f1rn1 in one part of the world to fight a competitive [...]...
58. Restraint of Trade Combinations, contracts, agreements, or arrangements, either oral or written, designed to effect a monopoly, impede competition, fix prices, retard entry into the field, or otherwise obstruct trade that would otherwise occur if left to natural economic forces. Acts in restraint of trade are [...]...
59. Structural Adjustment Policies Structural Adjustment Policies and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Structural Adjustment Policies: Measures --such as worker re-training and placement, capital formation, and R&D support [...]...
60. Product Cycle Product Cycle and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Product Cycle: The evolution of a production process from innovation through obsolescence, constituting a fundamental dynamic element in [...]...
61. Screwdriver Assembly Screwdriver Assembly and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Screwdriver Assembly: The export of components to manufacturing subsidiaries or...
62. Textiles Textiles and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Textiles: Historically, one of t e most politically sensitive and contentious sectors of international trade. As define in the Multifiber [...]...
63. Protectionism Protectionism Definition Protectionism may be defined as government policies that favor domestic products over imported goods. The debate between protectionism and free trade has been a continuing issue in United States politics. Meanings For information on: * systematic protectionism [...]...
64. Balance of Payments Balance Of Payments Summary of Balance Of Payments The sum owed to or by a nation as the result of its international transactions during a given time period, usually one year. The balance of payments is calculated by subtracting the nation's total payments to foreigners from total [...]...
65. Barter Summary of Barter A direct exchange of products without cash. In some cases, a third party is brought into the transaction to dispose of some or all of the goods in a third country; this practice is known as switch trading. See Countertrade.(Main Author: William J. Miller) Barter [...]...
66. Cabotage Summary of Cabotage Literally, coastwise navigation, generally used to denote the proscription of foreign flag vessels in a nation's coastwise trade. Since an act of Congress in 1817 (2 Stat. 351), the coastwise trade of the United States has been reserved exclusively to American [...]...
67. Cartel Summary of Cartel An alliance among firms in the same line of business aimed at controlling or dominating their field on an international basis.(Main Author: William J. Miller) Definition of Cartel In accordance with the work A Dictionary of Law, this is a description of Cartel : [...]...
68. Commodity Summary of Commodity A nondifferentiated product produced with commonly available technology.(Main Author: William J. Miller) The Legal History of Commodity in Islamic Law This section provides an overview of Commodity in Islamic Law Commodity in International Trade Meaning of [...]...
69. Convertibility Summary of Convertibility The ability of a currency to be exchanged for other currencies in settlement of current account transactions. Currencies are convertible in varying degrees, although the ability of nonresidents freely to purchase and sell a given currency, without governmental [...]...
70. Current Account Summary of Current Account An entry in a nation's balance of payments accounts reflecting the purchase of goods or services for consumption immediately or in the near future. See Balance of Payments.(Main Author: William J. Miller) Current Account and International Trade [...]...
71. Devaluation Summary of Devaluation The official reduction of the value of a nation's money in relation to a standard (usually gold), special drawing rights, or the U.S. dollar. Inasmuch as all currencies are ultimately valued in terms of some standard, devaluation results in the conscious increase [...]...
72. Import Substitution Summary of Import Substitution The act of eliminating imports of a given product by commencing production locally, often accompanied by controls such as increased duties, quotas, or outright bans to discourage or prevent continued foreign imports. This approach is fairly common on the part [...]...
73. Joint Venture Summary of Joint Venture A business enterprise with more than one equity participant; for example, an agreement between a German firm and a U.S. firm to capitalize jointly a new factory in Venezuela. Many countries impose restrictions on joint ventures; these restrictions may take the form [...]...
74. Patent Summary of Patent A grant issued by a governmental authority to an inventor permitting, for a fixed number of years, an exclusive right to the invention. The grant includes the prerogative of preventing others from making, using, or selling the invention covered. Through various [...]...
75. Portfolio Investment A minority interest in a foreign venture from which income is derived in the form of dividends; normally such an interest does not convey any significant control over the management or operations of the foreign firm.......
76. Trade Barrier Summary of Trade Barrier Constraints upon the exchange of goods among nations imposed by governments; such constraints are manifested in the form of tariffs, quotas, exchange controls, and a variety of so-called nontariff barriers. Barriers usually arise to protect domestic industries, [...]...
77. Trademark A device, symbol, or word used by a firm to distinguish its products from those of other manufacturers. The object of trademarks is to permit brand identification of products, which may permit a more ready market acceptance of current and new products. Trademarks are protected in the United [...]...
78. Trading Company A firm engaged in the purchase, distribution, and marketing of products in international trade. Generally, the trading company deals with products of unrelated firms as well as the manufacturers of joint ventures in which it is involved.......
79. Free Trade Introduction Free Trade, interchange of commodities across political frontiers without restrictions such as tariffs, quotas, or foreign exchange controls. This economic policy contrasts with protectionist policies that use such restrictions to protect or stimulate domestic industries. See [...]...
80. Allocation Cartel An agreement among firms in a particular industry by which each participant is assigned certain customers or areas within which it will be the exclusive or principal supplier.......
81. Antitrust Summary of Antitrust Legislation or public policies opposed to the monopolization or domination of a particular product or industry by one firm or a group of firms acting in concert. The object of antitrust laws is to preserve market competition. In the United States violation of the [...]...
82. Arbitrage Summary of Arbitrage The practice whereby foreign exchange or commodities are purchased in one market at lower cost and rapidly traded off in another, higher cost market. For example, if the pound sterling sells for $1.50 in Paris, but only $1.45 in New York, an arbitrageur could buy [...]...
83. Capital Account Entries in a nation's balance of payment accounts reflecting long- or shortterm loans made to other countries, or by other countries to the recording nation. See Balance of Payments.......
84. Complementary Exporting An arrangement in which a manufacturer markets his products internationally through the distribution channel of another firm, usually a manufacturer of similar but noncompetitive products.......
85. Consortium Summary of Consortium A multiparty commercial undertaking, differing from a joint venture by virtue of the comparatively large number of participants.(Main Author: William J. Miller) Consortium and International Trade Economy In relation to international trade economy, [...]...
86. Cross-licensing An arrangement in which one firm grants to another licenses to exploit proprietary rights in its patents or trademarks, secret processes, et cetera, in return for similar licensure to use the rights or processes of the recipient firm.......
87. Cutthroat Competition A discriminatory pricing practice whereby one vendor deliberately reduces prices to a low level with the object of driving out competition, thereby creating a monopoly or dominant market share. In the United States such practices are banned, although they are often employed in foreign countries.......
88. Entente Literally, "an agreement." In political usage, an understanding among governments as represented by accords on important areas. Commercially, the term is used on the Continent as a synonym for a cartel.......
89. Export Management Company A private company that serves as the export department of other firms, usually small- and medium-size manufacturers. An EMC will provide a variety of services for its clients, to include locating customers abroad, arranging transportation and financing for the merchandise, developing foreign [...]...
90. Horizontal Integration Summary of Horizontal Integration Also known as horizontal expansion, the expansion of a firm through the acquisition of additional production capacity in its primary field. For example, a shipping company may expand horizontally by acquiring other vessels on the same trade route.(Main [...]...
91. Invisibles Synonymous with Invisible Exports And Imports (read this and related legal terms for further details).......
92. Price Supports A program of governmental action designed to stabilize or lift the price that producers receive for their products. These actions may include direct cash payments, government purchase of output to force up market prices, or special financing. Such supports are most commonly applied to agriculture.......
93. Repatriation Summary of Repatriation The transfer of investment proceeds or the return of capital from a foreign country back to the home country of the investor.(Main Author: William J. Miller) Repatriation and International Trade Economy In relation to international trade economy, [...]...
94. Soft Currency A national currency that, because of exchange controls, is not freely convertible into gold or other currencies. Such controls are usually manifest in officially set rates of exchange that do not reflect the price of the soft currency, were it permitted to trade freely.......
95. Specialization Agreement Also known as a rationalization agreement, an arrangement among competing manufacturers of like products that each will sell only certain products, thereby providing each participant in the agreement a dominant position for a given product.......
96. Standardized Product A product marketed worldwide without substantial variation in the product's composition or appearance. Product standardization helps in achieving significant economies of scale. See differentiated product.......
97. Terms of Trade Summary of Terms of Trade An export-import price ratio derived by dividing indices of export prices by indices of import prices. For example, when export indices are 105 percent of a base period, and import indices are 98 percent of the same base period, then the terms of trade [...]...
98. Tie-In Contract An arrangement by which a desired product (tying product) can be purchased only upon agreement to purchase certain other products (tied products). Tie-in contracts are largely forbidden by the antitrust Clayton Act. ......
99. Trade Creation The substitution of lower- cost foreign goods for higher-cost domestic manufactures.......
100. Trade Diversion The shift in purchases from sources outside a free-trade area (within which tariffs have been eliminated) to a union member, even though the cost of purchasing outside the union (before duty) is less than procuring from within. The absence of duty among members of the free- trade area more than [...]...
101. Unrequited Transfer A transfer payment, ie., the transfer of assets from one nation to another without expectation of recompense.......
102. Customary International Law Hello Customary International Law Customary international law applies in international law in case of absence of a treaty. J. L. Brierly, in "The Law of Nations: an Introduction to the International Law of Peace"states that in order to determine what international customary [...]...
103. Administered Pricing A condition in which the prices of certain goods and/or services are determined by governmental authority, supplier cartels (legal or illegal), or trade associations, and not by market forces. The purpose of administered pricing is to eliminate price competition or to maintain price stability [...]...
104. Blockade Summary of Blockade An interdiction of maritime traffic to and/or from a given port or nation by the naval forces of another nation. Blockades usually arise out of declared war or other belligerent condition between the country whose area is blockaded and the country whose forces have [...]...
105. Boycott Summary of Boycott A conspiracy or coalition for the purpose of impeding the commerce of another. Boycotts are often attempts to advance political objectives by economic means and fall into two categories; the primary boycott, in which a party to the boycott refrains from trading with the [...]...
106. Certificate of Origin A document presented to customs authorities at the time of importation to authenticate the national origin of merchandise. The certificate is customarily issued by a recognized chamber of commerce or governmental authority in the country of origin.......
107. Commercial Risk The risk borne by an exporter that his foreign customer may be unable to pay for merchandise imported under open account terms. Commercial risk is contrasted with political risks, which arise from governmental actions and are unrelated to the financial condition or credit-wor- thiness of the [...]...
108. Common Carrier Read Carrier as cross-reference......
109. Common External Tariff Summary of Common External Tariff The uniform customs tariff applied by all the member states of a customs union or common market to imports from nonmember nations.(Main Author: William J. Miller) Common External Tariff and the GATT Policy Negotiations In relation to the GATT [...]...
110. Common Market Summary of Common Market A supranational organization of trading nations, created to promote economic collaboration and minimize constraints on the free movement of goods among the member states. Features of a common market include elimination of tariffs on goods moving between member [...]...
111. Concessional Sale A sale that allows the buyer terms less stringent than normal commercial conditions would otherwise dictate. Such sales are often made in conjunction with official aid programs and may include reduced sales price, special low-interest rates or extended payment terms, or acceptance of a [...]...
112. Conventional International Law International law that has arisen as the product of treaties or formal agreements among nations, as compared with international law that has developed through custom and usage over time.......
113. Country of Origin For customs tariff purposes, the country in which an imported product was manufactured, grown, or produced. When goods pass through more than one country in the process of manufacture, the country of origin does not change unless the product has been transformed substantially; minor [...]...
114. Customs Valuation For importers, the process of estimating the value of a product at customs presents problems that can be just as serious as the actual duty rate charged. The WTO agreement on customs valuation aims for a fair, uniform and neutral system for the valuation of goods for customs purposes — a system that conforms to commercial realities, and which outlaws the use of arbitrary or fictitious customs values. The Committee...
115. Defensive Investment An investment undertaken to protect larger commercial interests rather than for the return that the investment itself generates.......
116. Delivery Summary of Delivery The act whereby the owner of a vessel gives operational control over to the charterer.(Main Author: William J. Miller) In the United States For information about Delivery in the context of international trade, click here Delivery in International Trade Meaning [...]...
117. Discrimination Summary of Discrimination Unequal treatment in the duties, quotas, or administrative controls accorded to the products of one or more nations. Generally speaking, any nation which does not enjoy most FAVORED NATION (read this and related legal terms for further details) status is the subject [...]...
118. Economic Nationalism A conscious, articulated national drive toward economic self-sufficiency. Economic nationalism is comparable to Autarchy (read this and related legal terms for further details) but does not mandate the economic isolation......
119. ECU Ecu Summary of Ecu The European Monetary System is considered here.(Main Author: William J. Miller) ECU and International Trade Economy ECU (European Currency Unit) and Europe There is an entry on ecu (european currency unit) in the European legal encyclopedia. ECU and the [...]...
120. Effective Rate of Protection The net protection afforded by a nation's tariff system to any given domestic product. For example, the higher the rate of duty, the greater the protection against foreign imports; conversely, as rates are increased on raw materials or production inputs, the costs of domestic production are [...]...