Types
Quotas are established by legislation and Presidential proclamations issued pursuant to specific legislation and provided for in the Harmonized Tariff Schedule of the United States (HTSUS).
United States import quotas may be divided into two types: absolute quota and tariff-rate quota. Once a specific quota has been reached in a particular category, goods may still be entered, but at a considerably higher rate of duty.
Read more about this topic: Import Quota
Famous quotes containing the word types:
“... there are two types of happiness and I have chosen that of the murderers. For I am happy. There was a time when I thought I had reached the limit of distress. Beyond that limit, there is a sterile and magnificent happiness.”
—Albert Camus (1913–1960)
“Our major universities are now stuck with an army of pedestrian, toadying careerists, Fifties types who wave around Sixties banners to conceal their record of ruthless, beaverlike tunneling to the top.”
—Camille Paglia (b. 1947)
“If there is nothing new on the earth, still the traveler always has a resource in the skies. They are constantly turning a new page to view. The wind sets the types on this blue ground, and the inquiring may always read a new truth there.”
—Henry David Thoreau (1817–1862)