Tariff example sentences

Instead of altogether abandoning the idea, the countries that were participants to the Bretton Woods conference agreed upon having some arrangement among themselves so as to liberalise the world from high customs tariffs and various other types of restrictions that were in vogue at that time.These regulations were with respect to (a) licensing of imports, (b) tariff restrictions and (c) quantitative restrictions.To ensure reduction of tariffs and other trade barriers imposed by different countries; To engage in such activities which improve the standards of living, create employment, increase income and effective demand and facilitate higher production and trade; To facilitate the optimal use of the world's resources for sustainable development; and To promote an integrated, more viable and durable trading system.The question arose – would not a country lose all its stock of gold if it imported too much (and had a BoP deficit)? The mercantilist4 explanation was that unless the state intervened, through tariffs or quotas or subsidies, on exports, a country would lose its gold and that was considered one of the worst tragedies.However, we note that if American prices rise faster than Indian prices and, at the same time, countries erect tariff barriers to keep Indian shirts out (but not American ones), the dollar may not depreciate.The equilibrium is stable and self-correcting, requiring no tariffs and state action.Tariff and taxation policies, import quota system, subsidies and other controls adopted by a nation are not the same as in other countries and often discriminate against foreign products, services and capital.We have seen how British manufacturers attempted to take over the Indian market, and how Indian weavers and craftsmen, traders and industrialists resisted colonial controls, demanded tariff protection, created their own spaces, and tried to extend the market for their produce.According to the theory, as long as there are no barriers to trade like tariffs (taxes on trade) and quotas (quantitative limits on imports), exchange rates should eventually adjust so that the same product costs the same whether measured in rupees in India, or dollars in the US, yen in Japan and so on, except for differences in transportation.This arrangement came to be known as the General Agreement for Tariffs and Trade (GATT).Industrial groups organised themselves to protect their collective interests, pressurising the government to increase tariff protection and grant other concessions.GATT came into existence with effect from 1st January 1948 and remained in force till December 199 arious rounds of negotiations have taken place under the auspices of GATT to reduce tariff and non-tariff barriers.If required by the importer, the exporter approaches the foreign consulate for obtaining the certificate of origin to enable the importer to claim tariff or quota concessions at the time of clearance of cargo at the import destination.The new economic reforms aimed at trade liberalisation were directed towards import liberalisation, export promotion through rationalisation of the tariff structure and reforms with respect to foreign exchange so that the country does not remain isolated from the rest of the world.Export Processing Zones are industrial estates, which form enclaves from the Domestic Tariff Areas (DTA).