The government sets a quota on imports but then allows imports to enter the country above the quota at a higher tariff. The most recent example of this can be found in the U.S.-UK trade agreement, ...

Fact checked by Yarilet Perez Reviewed by Robert C. Kelly What Are Tariffs? Tariffs are a type of trade barrier that make imported products more expensive than domestic products. Tariffs typically ...

Trump has struck a series of bilateral trade deals in the last few days. With the EU, the US secured $750bn in energy purchases and reduced tariffs on steel via a quota system.

The European Commission says that around $8.7 billion of U.S. agricultural exports will receive “better market access” to Europe through allocation of tariff-rate quotas under a new trade pact.

Japan Vows More U.S. Rice Imports Within Tariff-Free Quota After months of negotiations, the two countries struck a deal to lower the so-called “reciprocal tariffs” from a proposed 25% to 15% ...

Britain has negotiated a lower tariff of 10% for its car sector but it also has a 100,000-vehicle quota which leaves little room for export growth. Above that quota, British car exports face a ...

The U.S.' 50% tariffs on steel and aluminum are expected to stay in the near term, though the U.S. and EU agreed on replacing that tariff with a quota system that the two sides will negotiate.

Britain said the European Union will remove tariffs on key steel products under a quota system from Friday as part of a reset of ties and a recent deal to ease trade barriers.

Carney's reaction comes after President Donald Trump doubled tariffs on Canadian steel and aluminum to 50% on June 3. To address this situation, Carney proposed a new tariff rate quota system.

EU is also pushing the U.S. to implement quotas and exemptions to effectively ease Washington's 25% tariff on automobiles and auto parts, as well as its 50% tariff on steel and aluminum, the ...

TORONTO (Reuters) -Prime Minister Mark Carney on Wednesday said Canada will introduce a tariff rate quota for countries with which it has free trade agreements, excluding the United States, to ...

TOKYO (Reuters) -Japan will import more rice from the United States but within the existing tariff-free quota, Prime Minister Shigeru Ishiba said on Wednesday, stressing Tokyo's success in ...