Are tariffs and quotas increasing as inflation increase?
Since typically tariffs are stated in percentage values, inflation will increase them in nominal dollar terms, but not in real terms (i.e. in purchasing power terms). As for quotas, those may or may not be increased, depending on if they’re stated in quantities of goods (e.g. X tons of steel pipe) or in dollar values. In the latter case, one would need to have the quota updated as inflation eats away at the value of the quota.
