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Simple English definitions for legal terms

preferential tariff

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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.

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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