Basket tariff quota
Basket tariff quota: a tariff quota covering a range of closely related internationally traded products. If a tariff quota is applied at the four-digit level under the Harmonized Commodity Description and Coding System (HS), it is still possible to give additional protection to sensitive products by splitting the four-digit level into six digits or more. Quota rights can then be allocated selectively within the entire four-digit range. In this way, a tariff quota can be used as a protectionist measure even when it is allocated fully to importers.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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