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Business Reading Room
Glossary and Acronyms - from T to
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A An
B C Con D E F G H I J K L M N O P Q R S Sp T Tr U VWXYZ
Table of Denial Orders
The TDO is a list of individuals and firms that have been disbarred
from shipping or receiving U.S. goods or technology. Firms and individuals on the list may
be disbarred with respect to either controlled commodities or general destination
(across-the-board) exports. The list is published in the Export Administration
Regulations.
Tare Weight.
The weight of a container and packing materials without the weight
of the goods it contains.
Tariff
A tax assessed by a government in accordance with its tariff
schedule on goods as they enter (or leave) a country. May be imposed to protect domestic
industries from imported goods and/or to generate revenue. Types include ad valorem,
specific, variable, or some combination.
Tariff Act of 1930
Title VII of the Tariff Act of 1930, as amended, provides for the
imposition of antidumping duties on imported merchandise found to have been sold in the
United States at "less than fair value," if these sales have caused or are
likely to cause material injury to, or materially retard the establishment of, an industry
in the United States.
Tariff Anomaly
A tariff anomaly exists when the tariff on raw materials or
semi-manufactured goods is higher than the tariff on the finished product.
Tariff Escalation
A situation in which tariffs on manufactured goods are relatively
high, tariffs on semi-processed goods are moderate, and tariffs on raw materials are
nonexistent or very low.
Tariff Quotas
Application of a higher tariff rate to imported goods after a
specified quantity of the item has entered the country at a lower prevailing rate.
Tariff Schedule
A comprehensive list of the goods which a country may import and
the import duties applicable to each product.
Tariff Schedules of the United States
See: Tariff Schedules of the United States Annotated.
Tariff Schedules of the United States Annotated
Effective 1979 to January 1989, the U.S. import statistics were
initially collected and compiled in terms of the commodity classifications in the Tariff
Schedules of the United States Annotated (TSUSA), an official publication of the U.S.
International Trade Commission embracing the legal text of the Tariff Schedules of the
United States (TSUS) together with statistical annotations. This publication was
superseded by the Harmonized Tariff Schedule of the United States Annotated for
Statistical Reporting Purposes (HTSUSA) in January 1989.
Effective 1979 to January 1989, the U.S. export
statistics were initially collected and compiled in terms of the commodity classifications
in Schedule B, Statistical Classification of Domestic and Foreign Commodities Exported
from the United States. Schedule B is a U.S. Bureau of the Census publication and, during
this period, was based on the framework of the TSUS. In January 1989, this publication was
replaced by Schedule B based on the Harmonized System.
See: Schedule B.
Tax Information Exchange Agreement
A TIEA imposes on the agreeing countries a mutual and reciprocal
obligation to exchange information relating to the enforcement of their respective tax
laws. A TIEA provides a means by which a signatory government can pursue certain tax
evaders, particularly in cases involving large tax claims or drug enforcement. Countries
that sign a TIEA agree to: (a) exchange tax information at the government level in a form
admissable to U.S. or host country courts; (b) collect information without regard to the
taxpayer's nationality; (c) establish a means for compelling the production of tax
information; and (d) ensure that local laws do not prohibit the sharing of tax
information. A TIEA can support tourism in a signatory country because the Agreement
facilitates Internal Revenue Service approval of the destination as a necessary business
expense (deductible for Federal income tax purposes) for U.S. citizens and companies which
seek to justify attendance at business conventions and seminars in a signatory country.
T.C.
See Term Contract.
Technical Advisory Committees
The TACs are voluntary groups of industry and government
representatives who provide guidance and expertise to Commerce on export control matters,
including evaluation of technical issues; worldwide availability, use and production of
technology; and licensing procedures related to specific industries. TACs have been set up
for: (a) materials (Materials Technical Advisory Committee, MATAC), (b) biotechnology
(Biotechnology Technical Advisory Committee, BIOTAC), (c) computer systems (CSTAC), (d)
electronics (ETAC) (formerly "semiconductors"), (e) sensors (STAC) (formerly
"electronic instrumentation"), (f) materials processing equipment (MPETAC)
(formerly "automated manufacturing equipment"), (g) regulations and procedures
(RPTAC), (h) telecommunications equipment (TETAC), and (i) transportation and related
equipment (TRANSTAC).
Technical Barrier to Trade
According to the Standards Code, a specification which sets forth
characteristics or standards a product must meet (such as levels of quality, performance,
safety, or dimensions) in order to be imported.
Technology
BXA regulations define technical data as "information of any
kind that can be used, or adapted for use, in the design, production, manufacture,
utilization, or reconstruction of articles or materials. Technology can be either
"tangible" or "intangible." Models, prototypes, blueprints or
operating manuals (even if stored on recording media) are examples of tangible technology.
Intangible technology consists of technical services, such as training, oral advice,
information guidance and consulting.
Technology transfer.
This term is used to characterize "the transfer of knowledge
generated and developed in one place to another, where is it is used to achieve some
practical end." Technology may be transferred in many ways: by giving it away
(technical journals, conferences, emigration of technical experts, technical assistance
programs); by industrial espionage; or by sale (patents, blueprints, industrial processes,
and the activities of multinational corporations).
Temporary Importation under Bond
When an importer makes entry of articles brought into the United
States temporarily and claimed to be exempt from duty under Chapter 98, Subchapter XIII,
Harmonized Tariff Schedule of the United States, a bond is posted with Customs which
guarantees that these items will be exported within a specified time frame (usually within
one year from the date of importation). Failure to export these items makes the importer
liable for the payment of liquidated damages for breach of the bond conditions. The
Temporary Importation under Bond (TIB) is usually twice the amount of duties and other
payments the importer would otherwise be required to pay. Merchandise imported under TIB
is usually for sales demonstration, testing, or repair.
Tenor.
The term fixed for payment of a draft.
Term Contract (T.C.)
A contract in which a source or sources of supply are established
by competitive bid for a specific period of time, at a predermined unit price.
Terms of Reference
TOR is World Bank parlance referring to the preparation of a
description of the assignment for consultants to be selected by borrowers following World
Bank procedures.
Terms of Sale.
The invoice is the sales contract between buyer and seller and
indicates the Terms of Sale.
Terms of Trade
Terms of trade refers to the economic factors affecting a country's
foreign trade in goods and services, such as dependency on foreign sourcing and relative
competitiveness in production.
Textile Surveillance Body
The TSB is an international body which meets in Geneva at the GATT
to monitor the Multi-Fiber Arrangement. The TSB receives reports of all textile
restrictions and can make recommendations to participants. It can mediate disputes between
parties to the MFA but has no binding powers. Membership is balanced between importing and
exporting members.
Third Country Initiative
The TCI was created to help countries establish an export control
system on strategic commodities. Such countries, while not members of CoCom, would
establish export control systems that provide levels of protection as close as possible to
those provided by CoCom. Such systems include: (a) import certifications and delivery
verifications, (b) controls over reexports of CoCom-origin, controlled goods and
indigenous exports of CoCom-controlled goods, (c) cooperation in pre-licensing and
post-shipment checks, and (d) cooperation on enforcement matters. The United States
supports the third country initiative through section 5(k) of the Export Administration
Act, which allows it to provide selected non-CoCom countries with the same licensing
benefits provided to CoCom members.
Third Country Meat Directive
The TCMD is a regulation by which the European Community controls
meat imports based on sanitary requirements. The TCMD requires individual inspection and
certification by EC veterinarians of U.S. meat plants wishing to export to the EC.
Through Bill of Lading.
A single bill of lading converting both the domestic and
international carriage of an export shipment. An air waybill is essentially a through bill
of lading used for air shipments. However, ocean shipments usually require two separate
documents -- an inland B/L for domestic carriage and an ocean B/L for international
carriage. Through bills of lading are insufficient for ocean shipments.
Tied Aid Credit
Tied aid credit refers to the practice of providing grants and/or
concessional loans, either alone or combined with export credits, linked to procurement
from the donor country.
Tied Loan
A loan made by a government agency that requires a foreign borrower
to spend the proceeds in the lender's country.
Time Draft.
A draft that matures either a certain number of days after
acceptance or a certain number of days after the date of the draft. Compare Date draft and
Sight draft
Tonnage.
Gross Tonnage - Total internal carrying capacity of a vessel
expressed in measurement tons (one measurement ton = 100 cu. ft.).
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