Term used in describing the bringing together of the results of the Uruguay Round Group of Negotiations on Goods (GNG) and Group on Negotiations on Services (GNS) through the Trade Negotiating Committee (TNC). The Final Act provides a framework for the implementation of the results of the Uruguay Round negotiations.   

Source: http://www.asycuda.org/cuglossa.asp?firstlet=F&submit1=Browse

The third stage of processing in the measurement of tariff escalation. Finished products are processed products which can be sold to consumers without further processing. See also ESCALATION (TARIFF).

See EXCISE DUTY (also known as fiscal tax or revenue duty).

See QUOTAS.

Fixed INRs are determined when a concession is negotiated bilaterally between two WTO Members. When concessions were offered using a tariff cutting formula (e.g. Kennedy or Tokyo rounds) there was no bilateral negotiation and therefore no exchange of INRs. In such cases, INRs were held by the principal supplier for a given item and market. When the issue arose, the principal supplier was determined from the last three years for which import statistics were available. Such INRs are called "floating" INRs.

See also INITIAL NEGOTIATING RIGHT (INR) and HISTORICAL INITIAL NEGOTIATING RIGHTS  

A tariff reduction negotiating method by which tariffs are reduced across the board using a mathematical formula agreed upon by participants.

Related terms:

FORMULA-PLUS TARIFF REDUCTIONS - The use of linear tariff cuts, accompanied by other methods to achieve tariff reductions, such as zero-for-zero tariff reductions.

Source: Walter Goode: Dictionary of Trade Policy Terms, Fourth Edition, (Cambridge University Press/WTO, 2003), p. 143

HARMONIZING FORMULA - Used in tariff negotiations for much steeper reductions in higher tariffs than in lower tariffs, the final rates being 'harmonized' i.e. closer together.

A casual term used to infer that a country which does not make any trade concessions, but profits, nonetheless, from tariff cuts and concessions made by other countries in negotiations under the most-favoured-nation principle.  

See DUTY-FREE.

A group of two or more customs territories in which the duties and other restrictive regulations of commerce are eliminated on substantially all the trade between the constituent territories in products originating in such territories.

An area within a country (a seaport, airport, warehouse, or any designated area) regarded as being outside its customs territory. Importers may therefore bring goods of foreign origin into such an area without paying customs duties and taxes, pending their eventual processing, transshipment, or re-exportation. Free zones may also be known as "free ports," "free warehouses," "free trade zones," and "foreign trade zones."  

Source: http://usinfo.state.gov/products/pubs/trade/glossdi.htm#freezone