Do Tariff-Rate Quotas Function as Intended by the World Trade Organization?

Jayson Beckman

Amber Waves:The Economics of Food, Farming, Natural Resources, and Rural America, 2021, vol. 2020, issue 03

Abstract: The World Trade Organization (WTO) was formed in 1995 in part to improve market access for trade by negotiating the reduction or elimination of barriers that prohibited trade, such as quotas. One way this was done was through the establishment of tariff-rate quotas (TRQs). A TRQ is effective by limiting the quantity of goods allowed into a market at a low, in-quota rate. After the in-quota amount is filled, the product can still be imported but at a higher tariff. The TRQ allows for access to a market that might have been closed to exports, benefiting the exporter and consumers in the importing country.

Keywords: Agricultural Finance; Crop Production/Industries; International Relations/Trade; Political Economy; Production Economics (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersaw:310094

DOI: 10.22004/ag.econ.310094

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