The types of quotas in existence. How does the United States enforce the quotas
ID: 374166 • Letter: T
Question
The types of quotas in existence. How does the United States enforce the quotas it imposes?
Quotas are confines on the goods quantity that can be imported into a nation during a specified period of time. An import quota is the one that is set underneath the free trade level of imports which is called a binding quota. If a quota is set above the free trade level of imports is called a non-binding quota. Illegal goods in a country have zero quotas. There are several countries that have zero quotas on narcotics, illicit drugs etc.,
Two basic types of quotas:
Absolute quotas & Tariff-rate quotas.
An absolute quota has a limitation in terms of import quantity to a specific level during a specific time period. Seldom, these quotas are set globally affecting all imports while others are set only against specified countries. Absolute quotas are controlled on a first-come-first-served basis. For this purpose, several quotas are filled shortly after the opening of the quota period. Tariff-rate quotas allow a specific quantity of goods to be imported at a reduced tariff rate during that specific quota period.
In America, in the year 1996, consumer products viz., milk, fresh cream, broomstick, ethyl alcohol, tuna, olives were subject to tariff-rate quotas. Quotas other than this exist on products viz., syrup, cotton, sugar, and peanuts.
In the US several quotas are governed by the US Customs Service. The exceptions of this cover products viz., dairy products, that is governed by the Agricultural Department. Watch movements, are governed by Interior and Department of Commerce.
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1. What are the types of quotas in existence? How does the United States enforce the quotas it imposes? What is a merchandise visa?
2. How can an MRP system help a company implement a JIT production process? Give some specific examples and relate this to your company or a company of your choice, if that company 'did not' have an MRP system.
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