protects domestic processing industries and discourages the development of processing activity price undertaking- Undertaking by an exporter to in the countries where raw materials originate raise the export price of the product to avoid the tariff peaks- Relatively high tariffs, usually on possibility of an anti-dumping duty. sensitive products, amidst generally low tariff PSI- Preshipment inspection -the practice of levels. For industrialized countries tariffs of 15% ompanies to check and above are generally recognized as "tariff shipment details of goods ordered overseas-ie riffs-Customs duties on merchandise imports Quantitative restrictions- specific limits Levied either on an ad valorem basis(percentage of on the quantity or value of goods that can be value)or on a specific basis(e.g $7 per 100 kgs. ) imported(or exported)during a specific time Tariffs give price advantage to similar period. rules of origin-Laws, regulations and locally-produced goods and raise revenues for the dministrative procedures which determine a wCO-World Customs Organization, a customs authority on origin can determine whether multilateral body located in Brussels through which a shipment falls within a quota limitation,qualifies participating countries seek to simplify and for a tariff preference or is affected by an rationalize customs procedures anti-dumping duty. These rules can vary from country to country. Non-tariff measures safeguard measures- Action taken to protect a anti-dumping duties- Article VI of the GATT specific industry from an unexpected build-up of 994 permits the imposition of anti-dumping duties Imports- governed by Article XIX of the GAtT between their export price and their normal value, subsidy- There are two general types of subsidies if dumping causes injury to producers of competing export and domestic. Anexport subsidy is a benefit products in the importing country conferred on a firm by the government that is circumvention-Measures taken by exporters to contingent on exports. a domestic subsidy is a evade anti-dumping or countervailing duties benefit not directly linked to exports tariffication- Procedures relating to the importing country, usually in the form of increased agricultural market-access provision in which all duties to offset subsid o producers or non-tariff measures are converted into tariffs Removing obstacles to the dumping-Occurs when goods are exported at a movement of goods across borders(e.g price less than their normal value, generally simplification of customs procedures) meaning they are exported for less than they are VRA, VER, OMA-Voluntary restraint sold in the domestic market or third-country arrangement, voluntary export restraint, orderly markets, or at less than production cost. marketing arrangement. Bilateral arrangements NTMs- Non-tariff measures such as quotas, mport licensing systems, sanitary regulations industry)agrees to reduce or restrict expor40 protects domestic processing industries and discourages the development of processing activity in the countries where raw materials originate. tariff peaks — Relatively high tariffs, usually on “sensitive” products, amidst generally low tariff levels. For industrialized countries, tariffs of 15% and above are generally recognized as “tariff peaks”. tariffs — Customs duties on merchandise imports. Levied either on an ad valorem basis (percentage of value) or on a specific basis (e.g. $7 per 100 kgs.). Tariffs give price advantage to similar locally-produced goods and raise revenues for the government. WCO — World Customs Organization, a multilateral body located in Brussels through which participating countries seek to simplify and rationalize customs procedures. Non-tariff measures anti-dumping duties — Article VI of the GATT 1994 permits the imposition of anti-dumping duties against dumped goods, equal to the difference between their export price and their normal value, if dumping causes injury to producers of competing products in the importing country. circumvention — Measures taken by exporters to evade anti-dumping or countervailing duties. countervailing measures — Action taken by the importing country, usually in the form of increased duties to offset subsidies given to producers or exporters in the exporting country. dumping — Occurs when goods are exported at a price less than their normal value, generally meaning they are exported for less than they are sold in the domestic market or third-country markets, or at less than production cost. NTMs — Non-tariff measures such as quotas, import licensing systems, sanitary regulations, prohibitions, etc. price undertaking — Undertaking by an exporter to raise the export price of the product to avoid the possibility of an anti-dumping duty. PSI — Preshipment inspection — the practice of employing specialized private companies to check shipment details of goods ordered overseas — i.e. price, quantity, quality, etc. QRs — Quantitative restrictions — specific limits on the quantity or value of goods that can be imported (or exported) during a specific time period. rules of origin — Laws, regulations and administrative procedures which determine a product’s country of origin. A decision by a customs authority on origin can determine whether a shipment falls within a quota limitation, qualifies for a tariff preference or is affected by an anti-dumping duty. These rules can vary from country to country. safeguard measures — Action taken to protect a specific industry from an unexpected build-up of imports — governed by Article XIX of the GATT 1994. subsidy — There are two general types of subsidies: export and domestic. An export subsidy is a benefit conferred on a firm by the government that is contingent on exports. A domestic subsidy is a benefit not directly linked to exports. tariffication — Procedures relating to the agricultural market-access provision in which all non-tariff measures are converted into tariffs. trade facilitation — Removing obstacles to the movement of goods across borders (e.g. simplification of customs procedures). VRA, VER, OMA — Voluntary restraint arrangement, voluntary export restraint, orderly marketing arrangement. Bilateral arrangements whereby an exporting country (government or industry) agrees to reduce or restrict exports