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.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.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.This arrangement came to be known as the General Agreement for Tariffs and Trade (GATT).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.As per the Central Excise Tariff Act, excise duty is payable on the materials used in manufacturing goods.Export Processing Zones are industrial estates, which form enclaves from the Domestic Tariff Areas (DTA).Besides the general principles of trade liberalisation, GATT also includes certain special agreements evolved to deal with specific non-tariff barriers.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.Promoting an environment that is encouraging to its member countries to come forward to WTO in mitigating their grievances; Laying down a commonly accepted code of conduct with a view to reducing trade barriers including tariffs and eliminating discriminations in international trade relations.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.The equilibrium is stable and self-correcting, requiring no tariffs and state action.The union abolished tariff barriers and reduced the number of currencies from over thirty to two.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.This arrangement came to be known as the General Agreement for Tariffs and Trade (GATT).