Simple English definitions for legal terms
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Term: CXT
Definition: CXT stands for Common External Tariff. It is a type of tariff that is applied to goods imported from countries outside of a particular trade bloc or customs union. This means that all member countries of the trade bloc or customs union have the same tariff rates for goods imported from outside the bloc or union. It helps to create a level playing field for businesses within the bloc or union and can also be used as a tool for protecting domestic industries from foreign competition.
CXT
CXT is an abbreviation for "common external tariff" which is a type of tariff that is applied uniformly by a group of countries to goods imported from countries outside of that group.
For example, the member countries of the European Union have a common external tariff on goods imported from countries outside of the EU. This means that if a product is imported into any EU country from a non-EU country, it will be subject to the same tariff rate regardless of which EU country it enters first.
Another example is the Southern African Customs Union (SACU), which has a common external tariff on goods imported from countries outside of the SACU. This means that if a product is imported into any of the SACU member countries (Botswana, Lesotho, Namibia, South Africa, and Eswatini) from a non-SACU country, it will be subject to the same tariff rate regardless of which SACU country it enters first.
The examples illustrate how a common external tariff works in practice. In both cases, a group of countries has agreed to apply the same tariff rate to goods imported from countries outside of that group. This helps to create a level playing field for trade between the member countries and ensures that non-member countries are not able to gain an unfair advantage by exporting goods to one member country with a lower tariff rate and then re-exporting them to another member country with a higher tariff rate.