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Key Terms
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ad valorem tariff  A tariff levied as a proportion of the value of an imported good.
(See page(s) 193)
administrative trade policies  Administrative policies, typically adopted by government bureaucracies, that can be used to restrict imports or boost exports.
(See page(s) 198)
antidumping policies  Policies designed to punish foreign firms that engage in dumping and thus protect domestic producers from unfair foreign competition.
(See page(s) 200)
countervailing duties  Antidumping duties.
(See page(s) 200)
D'Amato Act  Act passed in 1996, similar to the Helms–Burton Act, aimed at Libya and Iran.
(See page(s) 204)
dumping  Selling goods in a foreign market for less than their cost of production or below their "fair" market value.
(See page(s) 200)
free trade  The absence of barriers to the free flow of goods and services between countries.
(See page(s) 192)
Helms–Burton Act  Act passed in 1996 that allowed Americans to sue foreign firms that use Cuban property confiscated from them after the 1959 revolution.
(See page(s) 204)
import quota  A direct restriction on the quantity of a good that can be imported into a country.
(See page(s) 197)
local content requirement  A requirement that some specific fraction of a good be produced domestically.
(See page(s) 198)
specific tariff  Tariff levied as a fixed charge for each unit of good imported.
(See page(s) 193)
subsidy  Government financial assistance to a domestic producer.
(See page(s) 196)
tariff  A tax levied on imports.
(See page(s) 193)
voluntary export restraint (VER)  A quota on trade imposed from the exporting country's side, instead of the importer's; usually imposed at the request of the importing country's government.
(See page(s) 197)







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