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Tariffs and quantitative restrictions

In: The Law and Economics of International Trade Agreements

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Abstract

This chapter examines the law and economics of traditional border measures such as tariffs and quotas. It considers classification, valuation and rules of origin under national law, and tariff negotiating rounds and bindings in the WTO/GATT system. It also discusses tariff renegotiation and the “liability rule” approach to renegotiation found in GATT. The general prohibition of quantitative restrictions and its exceptions are examined, including exceptions for balance of payments issues. Additional economic topics include the rationale for “tariffication,” differences in the trade effects of tariffs and quotas, and the rationale for disciplining restraints on exports as well as imports.

Suggested Citation

  • ., 2023. "Tariffs and quantitative restrictions," Chapters, in: The Law and Economics of International Trade Agreements, chapter 6, pages 127-158, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:21398_6
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