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In economics, the Metzler paradox (named after the American economist Lloyd Metzler) is the theoretical possibility that the imposition of a tariff on imports may reduce the relative internal price of that good. [1] It was proposed by Lloyd Metzler in 1949 upon examination of tariffs within the Heckscher–Ohlin model. [2]
The main economic issues that arise with tariffication stem from the nonequivalence of tariffs in NTBs in a number of scenarios. The issue analyzes nonequivalence arising from the existence of imperfect competition in importing countries, price instability in importing and exporting countries, and inefficient allocation of quantitative restrictions.
Georgetown University Professor Marc L. Busch and McGill University Professor Krzysztof J. Pelc note that modern trade deals are long and complex because they often tackle non-tariff barriers to trade, such as different standards and regulations, in addition to tariffs. Due to steadily decreasing tariff barriers since World War II, countries ...
Domestic Tariff Area (DTA) or Domestic Tariff Zone (DTZ) means an area within India that is outside the Special Economic Zones and EOU/EHTP/STP/BTP. [ 1 ] The units operating under certain specific schemes such as EPZ /SEZ/EOU are expected to carry out their activities within a customs bonded area.
A tariff or customs duty is a tax on imported or exported goods.. A tariff may also refer to: . Tariff, a schedule of prices for the sale or rental of a product or service; Tariff (regulation) a contract between a regulatory agency and a business, such as a utility company, which sets rates and conditions for the regulated service
The trade facilitation objectives were introduced in the international agenda basically because of four main factors. [6]1) The successful implementation of the trade liberalization policy within the WTO frameworks caused the significant reduction of tariff and non-tariff barriers, that is common for developed countries (the average rate of customs duty from 4,5% to 6,5%, the share of duty ...
The Company Rule in India refers to areas in the Indian subcontinent which were under the rule of British East Indian Company.The East Indian Company began its rule over the Indian subcontinent starting with the Battle of Plessey, which ultimately led to the vanquishing of the Bengal Subah and the founding of the Bengal Presidency in 1765, one of the largest subdivisions of British India.
In return for an IMF bailout, India transferred gold bullion to London as collateral, devalued the rupee and accepted economic reforms. [40] The federal government, with Manmohan Singh as finance minister, reduced licensing regulations; lowered tariffs, duties and taxes and opened up to international trade and investment.