Related Entries of the International Encyclopedia:

1. Restitutions Export and producer subsidies granted by the European Economic Community to EEC farmers and processors. The subsidies are a feature of the Common Agricultural Policy (read this and related legal terms for further details......
2. Green Rate A special rate of exchange used in converting agricultural prices fixed in units of account into national currencies, within the framework of the Common Agricultural Policy (read this and related legal terms for further deta......
3. Compensatory Tax A special import levy imposed by the European Economic Community upon certain agricultural imports when the entry price of such products falls below a reference, or minimum target, price and the import is priced so as to reflect an export subsidy. Compensatory taxes are institutionalized in the [...]...
4. Additional Product Aid A feature of the Common Agricultural Policy of the European Economic Community, which provides price supports to EEC producers affected by import competition. The "community preference" mechanism of the CAP eliminates external competition for most items but does not respond for certain pro......
5. Common Financing A feature of the Common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community.......
6. Common Pricing A feature of the COMMON AGRICULTURAL policy (read this and related legal terms for further details) of the European Economic Community.......
7. Section 204 A provision of the Agricultural Act of 1956 authorizing the president to negotiate bilateral agreements to limit exports to the United States of "any agricultural commodity or product manufactured therefrom or textiles or textile products." The president is also empowered to take steps to ......
8. Variable Import Levy A duty applicable to imports of certain significant agricultural commodities into the European Economic Community. The Common Agricultural Policy (read this and related legal terms for further details). of the EEC specif......
9. Single Market Summary of Single Market A component feature of the Common Agricultural policy (read this and related legal terms for further details) of the European Economic Community.(Main Author: William J. Miller) Single Market and Europe There is an entry on single market in the European [...]...
10. Sale At Less Than Fair Value The sale of merchandise to a foreign purchaser at a price below the price that would be charged for a like sale in the home market. Such sales may serve as the basis for an allegation of Dumping (read this and related legal ......
11. Supplementary Levy An additional tax that may be imposed upon imports of pork, poultry, or eggs into the European Economic Community when the purchase price of such items falls below the Gate Price ("https://lawin.org/list-of-international-trade-law-terms/">read this and related legal terms for [...]...
12. Financial Solidarity A component principle of the Common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community.......
13. Monetary Compensatory Amounts Settlements between member states of the European Economic Community to reflect the market rate of currencies used in agricultural transactions and the periodically revised Green Rate (read this and related legal terms for f......
14. 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 [...]...
15. Buyer's Premium A subsidy offered by a member state of the European Economic Community to domestic tobacco processors to encourage the use of EEC, rather than imported, tobaccos. The program, which is a feature of the common AGRICULTURAL POLICY (...
16. Chicken War A protracted dispute between the United States and the European Economic Community arising from the adoption of Europe's COMMON AGRICULTURAL POLICY (read this and related legal terms for further details) on chicken i......
17. Cooley Loans Foreign-currency-denominated loans by the U.S. government to foreign nations to permit the purchase of American agricultural commodities. The loans are authorized by an amendment to the Agricultural Trade Development and Assistance Act (...
18. Current Account Purchases The value of intermediate products in the national production process. An intermediate product is a manufacturing input that has not been converted into a finished product; for example, steel is an intermediate product in the manufacture of an automobile. The value of current account purchases is im......
19. 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 (...
20. Ordinary Course Of Trade A concept routinely applied in customs valuation that holds that the dutiable value of goods is the price at which they would normally sell if customary channels of distribution were observed. For example, where it was industry practice for a product to be sold directly by a manufacturer to an end u......
21. Trade Agreements Act Of 1979 An act of Congress implementing certain agreements negotiated under the Tokyo Round (read this and related legal terms for further details). The act replaced the Countervailing Duty Law and Antidumping Act of 1921 and ab......
22. Less Than Fair Value An export sale price below that charged on like sales in the country of origin. Such sales are usually regarded as dumping (read this and related legal terms for further details), which may result in the imposition by th......
23. Ocean Freight Differential A sum rep resenting the difference in freight costs associated with moving subsidized agricultural exports on American rather than cheaper foreign vessels. The differential is provided for shipments under the Agricultural Trade Development And Assistance Act (...
24. 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 [...]...
25. Buffer Stocks Buffer Stocks and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Buffer Stocks: Commodity stocks managed by countries or international organizations to moderate market price fluctuations. When prices rise [...]...
26. 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 [...]...
27. Montant De Soutien A plan devised by the European Economic Community in 1963 as the basis of agricultural trade negotiations during the Kennedy round. The plan is predicated upon a reference price for a given agricultural commodity; any imports below the reference price would incur a levy equal to the spread between t......
28. Tariff (Customs) A document issued by a nation's customs authority principally for the purpose of specifying rates of duty to be applied on various imported products. A tariff customarily also includes quantitative restrictions (quotas) upon certain imports, preferential duties on products imported from specifie......
29. Articles Of Mixed Status Merchandise manufactured within a foreign trade zone (read this and related legal terms for further details) of components of more than one status. The status of merchandise is the product of several factors. An item in ......
30. Intervention Summary of Intervention A process within the framework of the Common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community whereby the EEC will purchase certain commodities currently selling below a stipulated target price. The price [...]...
31. Dual Pricing The sale of an identical product at different prices in different markets.......
32. Free Market The economic system of a nation in which market forces determine which goods and services are produced, and at what price they are offered. Free market economies do not contain substantial government controls on resource availability, price levels, or central planning of economic objectives.......
33. United States Value A basis for assessing duties predicated upon the wholesale price of the imported product (or a like domestic product if the value of the imported product cannot be ascertained), less normal markups, transportation costs, insurance, and duties. This method of valuation has been supplanted by the cust......
34. Ethnocentric Pricing The policy of a firm to offer its products at the same price abroad as in the home market, irrespective of price sensitivity or other factors of the foreign market.......
35. Positive Concept Of Valuation An approach to the application of ad valorem duties that holds that duties should be applied upon the actual value of the transaction, as defined by buyer and seller. This view has been substantially fulfilled by the recent adoption of the transaction value basis of valuation in the Customs Valuatio......
36. Nonprivileged Foreign Status The condition of imported merchandise entered into a Foreign Trade Zone (read this and related legal terms for further details), other than goods that have been granted privileged foreign status (...
37. Pivot Charge The minimum charge imposed by an air carrier for the use of a Unit Load Device (read this and related legal terms for further details), or air container. The charge is based upon a Pivot Weight (...
38. Ever-Normal Granary An agricultural price stabilization scheme predicated upon the principle that excess output in years of plenty should be taken off the market, to keep farm prices high and to avoid scarcities during periods of agricultural shortfalls.......
39. Sliding Scale Tariff A customs tariff in which rates of DUTY (read this and related legal terms for further details) vary according to the price of a given import. Usually, as the price of the item declines, the duty is reduced. Duties may b......
40. 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 [...]...
41. Tariff (Freight) A document issued, usually in booklet form, by a Common Carrier (read this and related legal terms for further details) listing its charges for transportation services. Commonly, the rate, or cost of transportation, vari......
42. Intermediate Goods Synonymous with Intermediate Products (read this and related legal terms for further details).......
43. Tramp A vessel that offers nonscheduled service between such ports as afford cargoes of opportunity. Unlike a Liner (read this and related legal terms for further details), a tramp seeks to acquire a full load from one shipper......
44. Economic Union Summary of Economic Union Also known as an economic community, an advanced form of economic integration on the part of several states. The economic union incorporates the features of a Common market (read this and related legal terms for further details)—unrestricted free trade among [...]...
45. Notional Concept Of Valuation An approach to the application of ad valorem duties that holds that duties should be applied upon the price the goods "ought to fetch" under specified conditions; this view was widely held for many years and was embraced in the Brussels Definition Of Value (...
46. Paper Gold A common reference to Special Drawing Rights (read this and related legal terms for further details) issued by the International Monetary Fund.......
47. Webb-Pomerance Act An act of 1918 authorizing exemptions from the Sherman Act (read this and related legal terms for further details) to certain combinations of firms for the purpose of promoting exports. The combinations formed under the ......
48. Community Preference Summary of Community Preference A component principle of the Common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community.(Main Author: William J. Miller) Community Preference and Europe There is an entry on community [...]...
49. Green Clause A provision in a letter OF CREDIT (read this and related legal terms for further details) similar to a RED CLAUSE (read this and related legal t......
50. International Reserves Gold, hard currencies, and special drawing rights (read this and related legal terms for further details) issued by the international monetary fund (...
51. Quantitative Restriction A limitation on the quantity of a given commodity that may be imported into a country during a specified period of time. A quantitative restriction is manifested as a Quota ("https://lawin.org/list-of-international-trade-law-terms/">read this and related legal terms for further [...]...
52. Switching Also known as switch trading, a Countertrade (read this and related legal terms for further details) arrangement under which a purchaser in one country assigns to a seller in another country an obligation due from a thir......
53. Statutory Rate Of Duty The rate of duty on the given product specified by the Smoot- Hawley Act (read this and related legal terms for further details) of 1930. The rates established by this act are applied to Column 2 countries, i.e., those t......
54. Findley Amendment An amendment to the AGRICULTURAL TRADE DEVELOPMENT AND ASSIST-ANCE ACT (read this and related legal terms for further details) of 1954 (P.L. 480) that precludes sales of agricultural produce under Title I of the act to a......
55. Soft Loan A loan repayable by a foreign borrower in a Soft Currency (read this and related legal terms for further details). Such loans usually have been the product of long-term sales to countries without hard currency repayment ......
56. Unilinear Tariff Synonymous with general TARIFF (read this and related legal terms for further details). Union D'Assureurs Des Credits Inter- Nationaux. The full, formal name of the Berne Union (...
57. Buffer Stock Summary of Buffer Stock A commodity stockpile controlled by one or more nations for the purpose of stabilizing world prices of that particular commodity. The commodity is released into the market as world prices increase and is purchased for the stockpile as prices decline. The [...]...
58. Gold Tranche Position A drawing of foreign exchange from the international monetary FUND (read this and related legal terms for further details), by a member nation up to or equal with that country's gold on deposit with the IMF. In effec......
59. Poultry War Synonymous with Chicken War (read this and related legal terms for further details).......
60. Safeguard Measures Actions taken by a nation to protect its domestic industry and commerce from what it views as unfair or improper practices by a trading partner. For example, a trading partner's use of improper subsidies designed to artificially stimulate exports might result in such safeguard measures as the im......
61. 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 [...]...
62. Berth No Berth A stipulation that may be included in a vessel charter party (read this and related legal terms for further details) providing that if the point of loading or discharge is a berth, and if the berth is not immediately ava......
63. Dillon Round A series of multinational trade discussions conducted during 1960-1962 under the sponsorship of the general agreement of tariffs and Trade (read this and related legal terms for further details). The principal result of ......
64. Floor In the case of a variable rate loan (read this and related legal terms for further details), a prearranged minimum rate of interest that will be imposed, irrespective of how low the money market index falls.......
65. Foreign Trade Antitrust Improvements Act A 1982 act of Congress, constituting Title IV of the export trading company act (read this and related legal terms for further details), which amends the Sherman Act and Federal Trade Commission Act to clarify their inap......
66. Prime Banker's Acceptance An acceptance (read this and related legal terms for further details) of a major, highly regarded commercial bank that is actively engaged in acceptance financing. The term prime is a mark of distinction over the accepta......
67. Visby Amendment A proposed revision to the Hague Agreement (read this and related legal terms for further details) of 1924 on the liability of ocean carriers for loss and damage to cargo. The Visby Amendment does not contemplate materia......
68. 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 [...]...
69. Price Competitiveness Price Competitiveness and International Trade Economy Resources See Also competitiveness...
70. Price-Fixing Agreement Price-Fixing Agreement and International Trade Economy Resources See Also cartel...
71. Price Cartel An agreement among business entities to fix prices, to establish ranges within which prices may move, or to establish methods by which prices may be determined.......
72. Price Base Price or Basic Price and International Trade Resources See Also Further Reading Information related to price in the Max Planck Encyclopedia of International Law(MPEPIL), Germany, United Kingdom Resources See Also Common Agricultural Policy Gate Price and International Trade Resources [...]...
73. Price Bands Price Bands and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Price Bands: A form of variable levy linked to a system of domestic price controls. Countries such as Chile and Colombia [...]...
74. Price Undertaking Price Undertaking and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Price Undertaking: An agreement by an exporting firm with the government of an " importing country to raise the [...]...
75. Price Restrictions In the United States For information about Price restrictions in the context of international trade, click here...
76. Trigger Price Mechanism A program of import surveillance instituted by the U.S. government in 1977. Under this scheme, a floor price is established for designated import items; this floor is predicated upon the production cost of the most efficient foreign producer, with adjustments for freight and currency [...]...
77. Resale Price Maintenance Resale Price Maintenance and International Trade Economy Resources See Also vertical restraints...
78. Arm's Length Price The price at which a given commodity would sell in a sale between an unrelated buyer and seller. Arm's length pricing is the functional opposite of transfer pricing, in which the buyer and seller are related and the price is influenced by that relationship.......
79. Cash Price The same as SPOT price (read this and related legal terms for further details), as used in grain transactions.......
80. 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......
81. Guide Price As used in conjunction with the European Economic Community's Common Agricultural Policy on cattle and calves, it is synonymous with Orientation Price (read this and related legal terms for further details).......
82. Intervention Price The price at which the European Economic Community, in accordance with the Common Agricultural Policy (read this and related legal terms for further details), will intervene in the market to buy excess agricultural produ......
83. Purchase Price Defined in 19 U.S.C. 162 as the price at which imported merchandise has been purchased, or will be purchased, prior to exportation. It is usually based on the ex factory price excluding any export duties levied in the country of manufacture. Within the framework of the European Economic Community......
84. Spot Price The price of a commodity in the Spot Market (read this and related legal terms for further details), i.e., the price quoted for immediate sale and delivery. ......
85. Target Price An important concept within the common agricultural policy (read this and related legal terms for further details) of the European Economic Community. It represents an optimum wholesale price within the community for a g......
86. Threshold Price A minimum import price for commodities established under the common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community, set so as not to hamper sales of EEC pro......
87. World Price The price at which a given commodity is selling internationally under market conditions in effect at the time of sale. To provide a valid comparison between prices, the world price quoted must normally include quality, location, and perhaps other factors, depending upon the commodity.......
88. Price Differentiation Price Differentiation in International Trade Meaning of Price Differentiation, according to the Dictionary of International Trade (Global Negotiator): Price strategy for international markets that allows each local subsidiary or partner (agent, distributor. etc.) to set a price that is [...]...
89. Price Standardization Price Standardization in International Trade Meaning of Price Standardization, according to the Dictionary of International Trade (Global Negotiator): Price strategy for international markets based on setting a price for the product as it leaves de factory. At its simplest it involves setting [...]...
90. Price Policy Related Fields Related topics include: Economic Development Find this subject in this World legal encyclopedia. Social development Find this subject in this World legal encyclopedia. Price Policy Find this subject in this World legal encyclopedia. Price Control Find this subject in this World [...]...
91. Price Control Resources See Also Price Policy Price Control Pricing Strategy Dumping...
92. Price Stabilization Resources See Also Price Policy Price Control Pricing Strategy Dumping...
93. Price Support Resources See Also Price Policy Price Control Pricing Strategy Dumping...
94. American Selling Price A method formerly employed in the United States to establish the value for duty of a limited number of imported products. Under the ASP scheme, an imported product's value for duty was based upon the selling price of like products manufactured in the United States, irrespective of the price the ......
95. Commodity Price Index An index of prices for a stipulated list of commodities. Prices may be on a spot or futures basis. Customarily, major commodities are traded on exchanges (although there are some exceptions), and price fluctuations can be monitored accordingly. The U.S. Department of Labor maintains an index of twen......
96. Consumer Price Index Summary of Consumer Price Index An index of the retail price of four hundred consumer products and services, computed monthly by the Bureau of Labor Statistics. Formerly known as the Cost of Living Index, the compilation includes retail price inputs of given items from many cities across [...]...
97. Equilibrium Relative Price Of Currencies Synonymous with rate of exchange, i.e., the price, in terms of one national currency, at which another currency can be purchased under market conditions.......
98. Foreign Market Price For purposes of customs valuation comparisons, generally the price of like merchandise sold for consumption in the country of origin.......
99. International Price Index A price index that serves as a standard to measure inflation in industrialized countries. The index consists of the C.I.F. value (in U.S. dollars) of exports of industrial country manufactures to developing countries.......
100. 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 [...]...
101. Adjusted Cif Price A factor in determining the variable import levy imposed by the European Economic Community on grain imports. The adjusted C.I.F. (cost, insurance, and freight) price is derived by assigning a quality factor to grain imported from non-EEC countries so as to put the import on a quality basis comparab......
102. Base Price As used in conjunction with the Common Agricultural Policy of the European Economic Community, a trigger price for specific commodities at which member states will intervene to support the market price of a commodity. Member states may respond to a decline in market prices below the base price by la......
103. Entry Price Under the common agriculture POLICY (read this and related legal terms for further details) of the European Economic Community, the price at which certain imported agricultural products enter EEC commerce. If the entry p......
104. Exercise Price The price at which the holder of an option contract may buy or sell a specified quantity of a given commodity, security, or currency.......
105. Gate Price The minimum price at which pork, poultry, and eggs werw permitted to enter the European Economic Community under the common AGRICULTURAL POLICY (read this and related legal terms for further details) without imposition o......
106. Indicative Price Also known as the norm price, the Target Price (read this and related legal terms for further details) for producers of olive oil under the common agricultural policy (...
107. Normal Price Within the scope of the Brussels Definition Of Value (read this and related legal terms for further details), the value basis upon which ad valorem duties will be assessed on imports. The normal price is the price the go......
108. Orientation Price As used in conjunction with the Common Agricultural Policy of the European Economic Community it is the target price (read this and related legal terms for further details) for cattle and calves, i.e., the equilibrium pr......
109. Reference Price A mechanism of the Common Agricultural policy (read this and related legal terms for further details) of the European Economic Community designed to prevent disruptive import competition for certain vegetables, fruits, f......
110. Standard Price The target price (read this and related legal terms for further details) for tobacco under the Common Agricultural Policy of the European Economic Community.......
111. Withdrawal Price A floor price at which European Economic Community producers of certain food products may withhold their goods from the market. The withdrawal price is generally below the base price (i.e., the target price set for a given commodity) and the purchase price at which EEC governments will intervene in ......
112. Norm Price Norm Price and International Trade Resources See Also Common Agricultural Policy...
113. Minimum Import Price As used in conjunction with the Common Agricultural Policy of the European Economic Community, Gate price (read this and related legal terms for further details).......
114. Resale Price Method Synonymous with Arm's Length Price (read this and related legal terms for further details).......
115. Uniform Delivered Price A single delivered price that is offered to all customers within a defined geographic area, irrespective of the actual cost of delivering the merchandise.......
116. Check Price System Check Price System and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Check Price System: A device used by a government agency to avoid charges of dumping in foreign markets by [...]...
117. Sluice-Gate Price Sluice-Gate Price and International Trade Resources See Also Common Agricultural Policy...
118. 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 [...]...
119. Political Risk An economic risk assumed by foreign creditors that political or military conditions in a debtor's country may preclude settlement of the obligation when due.......
120. 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.......