Term:
Over-quota tariff
Definition:
An over-quota tariff is the tariff applied on imports in excess of the tariff-rate quota volume. The over-quota tariff is greater than the in-quota tariff.
Under the Uruguay Round Agreement on Agriculture, most countries have agreed to progressive reductions in the over-quota tariff rates. Some countries have also agreed to lower the in-quota tariff rates, raise the tariff-rate quota level, or both
Domain:
International Trade
Source:
OECD glossary