国贸notes.doc

1. Terms Explanation 名词解释(1) The tariff concept : A tariff isa tax levied modity when it crosses the boundary ofa customs area. Import tariff, which isa tax levied on an imported product. Export tariff, which isa tax imposed on an exported product. (2) Import quotas :a quota is the most important non-tariff trade barrier. It isa direct quantitative restriction on the amount modity allowed tobe imported or exported. (3) Voluntary Export Restraints (VERs) : An importing country induces another nation to reduce its exports modity “ voluntarily, ” under the threat of higher all-round trade restrictions, when these exports threaten an entire domestic industry. (4) Free trade area : is the form of economic integration wherein all barriers are removed on trade among members, but each nation retains its own barriers to trade with nonmembers. (5) Customs union : allows no tariffs or other barriers on trade among members , and in addition it harmonizes trade policies (such as the setting mon tariff rates) toward the rest of the world. (6) Trade creation: occurs when some domestic production ofone customs-union member is replaced by another member ’s lower-cost imports. (7) Trade diversion: urs when lower-cost imports from outside the union are replaced by higher-cost imports from another union member. (8) Most Favored Nation Treatment :A ll the privilege, and preferential treatment and i