Determine the values of commodity imports

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Reference no: EM132172263

Question -

1. Describe a specific tariff, an ad valorem tariff, and a compound tariff. What are the advantages and disadvantages of each?

2. What are the methods that customs appraisers use to determine the values of commodity imports?

3. Under what conditions does a nominal tariff applied to an import product overstate or understate the actual, or effective, protection afforded by the nominal tariff?

Reference no: EM132172263

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