Import quota:

A trade barrier that sets the maximum quantity (quantitative restriction) or value of a commodity allowed to enter a country during a specified time period. The Uruguay Round Agreement on Agriculture requires the conversion of import quotas and other quantitative restrictions to tariff-rate quotas and/or bound tariff rates.

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Information and definitions of the terms been taken from various reliable government publications and we have done our best to verify their accuracy. If you feel any of the definitions are incorrect or needs to be updated please contact us and we will look into it.

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