Tariff Escalation 2
Tariff Escalation 2 : This term refers to the common situation whereby raw materials and less processed goods are generally dutied at lower rates than more processed versions of the same or derivative goods. For instance, the import duty in most countries is generally higher for petrochemicals than for the petroleum and other raw materials necessary for their production. It is argued by primary commodity exporting nations that this situation confers a higher degree of protection for the processing industries of importing countries than nominal tariff rates would suggest
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