TeachMeFinance.com - explain Quantitative restrictions, trade
Quantitative restrictions, trade The term 'Quantitative restrictions, trade ' as it applies to the area of agriculture can be defined as ' Quantitative restrictions are limitations on the quantity or value of a product that may be permitted to enter a country. They are probably the most familiar of the nontariff barriers and include quotas, embargoes, restrictive licensing, and other means of limiting imports. The Uruguay Round Agreement on Agriculture requires the conversion of quantitative restrictions to bound tariffs and tariff rate quotas'.
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