Trade Jargon 1

A pact between nations to reduce or eliminate trade barriers, encouraging trade between member countries.

The difference in value between a country's imports and exports. A surplus indicates more exports than imports.

A situation where tariff rates increase according to the level of processing, affecting trade costs for goods

Selling goods in a foreign market below cost, potentially creating unfair competition and trade disputes.

A document declaring the country where a product was manufactured, often required for customs clearance.

A contract clause that frees parties from liability when extraordinary events prevent fulfillment of obligations.

The entire process of producing and delivering a product, from raw materials to the final customer.

Regulations or policies that limit imports without imposing taxes, such as safety standards or quotas

A barrier to trade created by imposing taxes or duties on imports, often to protect domestic industries.

A government–imposed restriction limiting the quantity or value of goods that can be imported or exported.

An internationally standardized system of codes used by customs to identify goods in global trade.

A professional who assists businesses in clearing goods through customs by ensuring compliance with regulations and duties.

A government document authorizing the export of specific goods. Required for controlled or sensitive items.

A tax imposed by a government on imported or exported goods. Used to regulate trade and protect domestic industries.

A company or individual that arranges the logistics and paperwork for shipping goods from seller to buyer.