Tariff Management Terms and Concepts

These flashcards cover key terms and concepts from the Tariff Management lecture notes.

Customs Duties

Taxes on the importation and exportation of commodities.

Tariff

An official list of schedules setting forth customs duties to be imposed on imports and exports.

Ad Valorem Customs Duties

Customs duties computed on the basis of the official customs value.

Specific Customs Duties

Customs duties computed on the basis of a unit of measure.

Mixed or Compound Customs Duties

Customs duties computed on the basis of both ad valorem and specific customs duties.

Alternative Customs Duties

Customs duties computed on the basis of either ad valorem or specific customs duties.

Special Customs Duties

Additional import duties imposed on specific kinds of imported articles.

Anti-Dumping Duty

Imposed on the importation of a product into a country at less than its normal value.

Countervailing Duties

Imposed on imported goods to offset subsidies given by the exporting country's government.

Marking Duty

Duty imposed for improperly marked articles.

Discriminatory Duty

Imposed on goods originating from countries that discriminate against the commerce of the country in question.

Safeguard Duty

Imposed to protect domestic industries from increased imports.

Importation Begins

When the carrying vessel enters the territory with the intention to unload goods.

Importation Deemed Terminated

When all applicable duties, taxes, and other charges have been paid.

Tariff Commission

A government agency that investigates and provides recommendations on tariff matters.

Flexible Tariff Clause

Allows the eventual adjustment of import duties based on economic conditions.

Rules of Origin (ROO)

Criteria used to determine the country of origin of a good.

Harmonized System (HS)

An internationally standardized system of names and numbers for classifying traded products.

WTO (World Trade Organization)

An international organization that regulates global trade.

ASEAN (Association of Southeast Asian Nations)

A regional intergovernmental organization promoting political and economic cooperation.

Free Trade Agreement (FTA)

An agreement between two or more countries that reduces barriers to trade.

Customs Valuation

Determination of the customs value of imported goods.

Transaction Value Method

Method of valuing goods based on the price actually paid or payable.

Deductive Value Method

Determines customs value based on the sale price of imported goods in the domestic market.

Computed Value Method

Estimates customs value based on production costs plus profit and expenses.

Fallback Value Method

Uses reasonable means consistent with GATT principles if valuation cannot be determined by other methods.

Provisional Measures

Temporary measures to prevent injury to domestic industries pending investigations.

General and Special Safeguard Measures

Measures to protect domestic industries from injury caused by import surges.

Countervailing Duty

Duties imposed to offset any subsidies provided by the government of the exporting country.

Serious Injury

A significant impairment in the position of a domestic industry.

Causal Link

The relationship between subsidized imports and material injury to the domestic industry.

Market Access Opportunity

The percentage of total annual volume of imports of a commodity to the domestic market.

Minimum Access Volume (MAV)

Allowed imports into a country at lower customs duty rates.

Trade Remedies

Measures applied to protect domestic industries from unfair trade practices.

Price Difference

The amount obtained after subtracting the c.i.f. import price from the trigger price.

Trigger Price

The price benchmark for applying special safeguard measures.

Customs Clearance

The process of obtaining permission for goods to enter a country.

Duty-Free Importation

The importation of goods without the payment of customs duties.

Dispute Settlement Body (DSB)

A WTO forum for resolving trade disputes between member countries.

Tariff Rate Quota

A method of protecting domestic industries by allowing a certain quantity of imports at a reduced tariff.

Value-Added Rule (VA)

A criterion in ROO that requires a certain percentage of the product's value to be produced locally.

Change in Tariff Classification (CTC)

A rule assessing if imported materials have undergone significant change during processing.

Direct Consignment

An originating good that retains its status while being transported through other countries.

De Minimis Rule

Allows a small percentage of non-originating materials to not affect originating status.

Neutral Elements

Goods used in production that do not affect the origin of the finished goods.

Identical Goods

Goods that are produced in the same country by the same producer.

Like Product

A product that is identical or closely resembles another product in relevant aspects.

Commercial Samples

Samples of goods valued below a certain threshold and used for trade purposes.

Additional Duty

Tax imposed on top of standard duties for specific reasons.

Tax and Duty Exemptions

Specific provisions that allow certain goods to be imported without duties.

Voluntary Price Undertakings

Agreements by exporters to change prices or cease practices leading to dumping.

Sunset Review

Review conducted to determine if anti-dumping duties should be continued.

Imports Subject to Safeguard Measures

Products whose imports may need protective measures for domestic industries.

Government Procurement

Government's purchases of goods and services, often with specific regulations.