tariff reductions
Lowered import duties
Tariff reductions are decreases in taxes imposed on imported goods.
Governments negotiate tariff reductions through trade agreements to lower prices for consumers and encourage international commerce: The treaty promised tariff reductions on agricultural products.
Critics argue that tariff reductions can harm domestic industries by exposing them to cheaper foreign competition.
- border taxesDuties on imports
- quotasMandated numerical limits
- free trade agreementsTreaties lowering barriers between nations
- trade dealsNegotiated economic arrangements between parties
- open marketsUnrestricted commercial exchanges
concessions · customs · NAFTA · economic globalization · most-favored-nation · customs regulations · duty-free · import taxes · international cooperation · export duties · comparative advantage · price competition · diplomatic negotiations · level playing field · fair trade · exports · lowering · treaties
tariff reductionsimport duties
Taxes on incoming goods
trade barriers · retaliatory tariffs · tariff walls · anti-dumping duties · tariff barriers
tariff reductionsprotectionism
Shielding local producers
economic nationalism · import substitution · mercantilism · autarky · trade wars