Parallel imports are products imported into a country without the permission of the intellectual property owner, often involving software, publications, and music. They are not knockoffs but legitimate products intended for sale in another country. Laws regarding their legality vary, and attention to this type of import activity is increasing. A parallel import is a […]
Import tariffs are taxes on goods shipped from foreign countries to discourage consumers from buying foreign products and support domestic ones. Governments can impose specific or ad valorem tariffs, or a combination of both. Tariffs can have negative effects on the economy, such as higher prices and reduced purchasing power, but they can also create […]
An import quota limits the number of units of a specific good that can be imported within a specific period, aiming to maintain a fair balance in the marketplace. Critics argue that it harms the economy and limits consumer choice, while advocates believe it protects the economy and ensures jobs for citizens. Tariffs are seen […]
The US Department of Labor’s Bureau of Labor Statistics uses the Import Price Index to track changes in prices of imported goods and services. It is an important economic indicator used to measure growth in the economy and calculate ongoing inflation rates. The index is subdivided regionally to provide a clear picture of the impact […]
Import duties, or tariffs, are fees charged for goods brought into a country. They are classified by purpose or calculation method, with common types including specific, protective, prohibitive, and revenue. Tariffs protect a country’s economy and market, and are collected at the border. The most common tariff is ad valorem, calculated as a percentage of […]
