Sunday, August 7, 2011

Is there a relationship between quota and tariff? If so, what is it?

i.e. quota to the US is 5kg of rice for tariff free. But if > 5kg of rice, tariff is 50%. Or quota = 5kg of rice means rice can't be imported for more than 5kg? Does this kind of relationship exists? is this relationship varied through law of different countries? Thanks big big

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