A Tariff Rate Quota (TRQ) combines volume caps with tiered tariffs: the first million vehicles from South Korea might enter at 2% duty; units beyond that pay 8%.
Source: https://www.efta.int/
Tools that match this term
You might also be interested in these terms
Analyze all 11 Incoterms 2020: cost matrix, risk timeline, insurance gap detector and customs responsibility – free, no login required.
Weekly: Top news, industry facts and insights from the world of logistics – free.
Content reviewed and editorially cleared.
Share your knowledge, ask follow-up questions, or add practical insights to this page. Every contribution is moderated before publication.