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Simple English definitions for legal terms

preferential tariff

Read a random definition: backwardation

A quick definition of preferential tariff:

Preferential tariff: A preferential tariff is a special tax rate applied to goods imported from certain countries. It is lower than the regular tariff rate and is given as a benefit to countries that have a trade agreement with the importing country. This helps to promote trade between the two countries and can make certain products more affordable for consumers.

A more thorough explanation:

PREFERENTIAL TARIFF

A preferential tariff is a special tariff rate given to certain countries or products as a result of a trade agreement or other special arrangement. This rate is lower than the standard tariff rate and is designed to encourage trade between the countries involved.

For example, let's say Country A and Country B have a trade agreement that includes a preferential tariff on oranges. The standard tariff rate for oranges is 10%, but under the preferential tariff, oranges from Country B are only subject to a 5% tariff when imported into Country A. This makes it more attractive for businesses in Country A to import oranges from Country B, which can help to increase trade between the two countries.

Another example of a preferential tariff is the Generalized System of Preferences (GSP) program, which provides preferential tariff rates to developing countries on certain products when they are exported to developed countries. This program is designed to help promote economic growth in developing countries by making it easier and more affordable for them to export their goods to other countries.

A preferential tariff is a way to encourage trade between countries by making it more affordable for businesses to import and export goods. By offering a lower tariff rate on certain products or for certain countries, it can help to increase trade and promote economic growth. The examples illustrate how preferential tariffs work in practice and how they can benefit both developed and developing countries.

preferential shop | preferential transfer

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
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@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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