TeachMeFinance.com - explain Import fee
Import fee The term 'Import fee ' as it applies to the area of agriculture can be defined as ' Generally, an import fee is a charge assessed for a service rendered. For example, when an import stamp or import license is issued, the government assesses a fee for this service. Within the context of Section 22 of the Agricultural Adjustment Act of 1935, 'fees' were imposed on imports of agricultural products when deemed necessary to protect domestic farm programs. Then, under the North American Free Trade Agreement (starting in 1994) and the Uruguay Round Agreement on Agriculture (starting in 1995), Section 22 import fees and quotas were converted into tariff-rate quotas'.
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