by TheBusinessProfessor | Feb 23, 2025 | Global Business, International Law & Relations
What is the Brussels Tariff Nomenclature (BTN)?The Brussels Tariff Nomenclature (BTN) refers to a classification system for imported goods that was used internationally before 1976. BTN is a standardized system of classification for imported goods, it is used in the...
by TheBusinessProfessor | Feb 23, 2025 | Global Business, International Law & Relations
What is the Generalized System of Preferences?Generalized System of Preferences (GSP) is a trade preference program that permits duty-free or low-duty entry of products from developing countries and territories. GSP is also called generalized preferential tariff...
by TheBusinessProfessor | Feb 23, 2025 | Global Business, International Law & Relations
What is the Convention on the International Trade in Endangered Species (CITES)?The Convention on International Trade in Endangered Species (CITES), also known as the the Washington Convention, is defined as a multilateral pact or treaty focused on safeguarding the...
by TheBusinessProfessor | Feb 23, 2025 | Global Business, International Law & Relations
What is an Absolute Quota?An absolute quota is the maximum amount of imports of commodities that is allowed into a country at a particular period of time. The two divisions of import quotas are absolute quotas and tariff quotas. Absolute quotas can further be divided...
by TheBusinessProfessor | Feb 23, 2025 | Global Business, International Law & Relations
What is the North American Free Trade Agreement (NAFTA)?The North American Free Trade Agreement (NAFTA) was signed by Mexico, Canada and the United States to eliminate trade barriers on products (textiles, automobiles, agriculture and many others) traded between these...
by TheBusinessProfessor | Feb 23, 2025 | Global Business, International Law & Relations
What is the United States Customs Service (USCS)?The United States Customs Service (USCS) was a federal government agency, established on July 31, 1789, following the American Revolutionary War. This agency was responsible for collecting import tariffs and other...
