Variable import levy:

A charge levied on imports that raises their price to a level at least as high as the domestic price. Such levies are adjusted frequently (hence "variable") in response to changes in world market prices, and are imposed to defend administered prices set above world market prices. Under the Uruguay Round Agreement on Agriculture, the variable levies of the EU have been converted into fixed tariffs or tariff-rate quotas.

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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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