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An B C Con D E F G H I J K L M N O P Q R S Sp T U VWXYZ
Quadrilateral
Meetings
These are meetings involving trade ministers from the U.S., the European Community, Canada,
and Japan to discuss trade policy matters.
Quantitative Restrictions
Explicit limits, usually by volume, on the amount of a specified commodity that may be
imported into a country, sometimes also indicating the amounts that may be imported from
each supplying country. Compared to tariffs, the protection afforded by QR's tends to be
more predictable, being less affected by changes in competitive factors. Quotas have been
used at times to favor preferred sources of supply. The GATT generally prohibits the use
of quantitative restrictions, except in special cases, such as those cited in Articles XX
(which permits exceptions to protect public health, national gold stocks, goods of
archeological or historic interest, and a few other special categories of goods), or
Article XXI (which permits exceptions in the interest of "national security"),
or for safeguard purposes, when the appropriate procedures in Article XIX have been
followed.
Quotas and Quota System
Absolute quotas permit a limited
number of units of specified merchandise to be entered or withdrawn for consumption during
specified periods. Tariff-rate quotas permit a specified quantity of merchandise to be
entered or withdrawn at a reduced rate during a specified period. Quotas are established
by Presidential Proclamations, Executive Orders, or other legislation.
The Quota System, a part of
Customs' Automated Commercial System, controls quota levels (quantities authorized) and
quantities entered against those levels. Visas control exports from the country of origin.
Visa authorizations are received from other countries and quantities entered against those
visas are transmitted back to them. Control of visas and quotas simplify reconciliation of
other countries' exports and U.S. imports.
Quotation.
An offer to sell goods at a stated price and under specified conditions.
a authorizations are received from
other countries and quantities entered against those visas are transmitted back to them.
Control of visas and quotas simplify reconciliation of other countries' exports and U.S.
imports.
See: International Monetary Fund.
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