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What is an import quota?

April 26, 2017import quota

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What is an import quota?

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• A quota is another form of an import restriction that is a nontariff barrier to trade. The quota is set by a national government and is a maximum amount of some import as measured based on quantity or value. Determining who is allowed to import under the quota is usually done through direct allocation or sales of import licenses. The licenses can be held by individuals or firms, both foreign and domestic.

0

Posted

A quota is another form of import restriction that is nontariff barrier to trade. The quota is set by a national government and is a maximum amount of some import as measured based on quantity or value. Determining who is allowed to import under the quota is usually done through direct allocation or sales of import licenses. The licenses can be held by individuals or firms, both foreign and domestic.