Vitamin B12
Vitamin B12: a case brought by the European Economic Community (EEC) against the United States in 1981 on the grounds that the United States was not honouring one of its Tokyo Round commitments. The United States had agreed to abolish the American Selling Price (ASP) as part of the Tokyo Round outcome. Imports of both Vitamin B12 feedgrade and pharmaceutical quality were subject to the ASP at a bound rate negotiated in the Kennedy Round. At the time of the binding, the United States had reserved the right the change the tariff rate for goods in the event that the ASP was abolished, as seemed possible at the time. Between 1976 and 1980 Vitamin B12 of pharmaceutical quality entered the United States at a higher rate than Vitamin B12 of feedgrade quality. When the Customs Valuation Code, one of the Tokyo Round agreements, entered into force on 1 July 1980, the two rates were combined at the weighted average of the actual charges collected for both rates, which meant that Vitamin B12 feedgrade was now subject to a higher duty. In an understanding dated 2
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
If you are the author of the text above and you not agree to share your knowledge for teaching, research, scholarship (for fair use as indicated in the United States copyrigh low) please send us an e-mail and we will remove your text quickly. Fair use is a limitation and exception to the exclusive right granted by copyright law to the author of a creative work. In United States copyright law, fair use is a doctrine that permits limited use of copyrighted material without acquiring permission from the rights holders. Examples of fair use include commentary, search engines, criticism, news reporting, research, teaching, library archiving and scholarship. It provides for the legal, unlicensed citation or incorporation of copyrighted material in another author's work under a four-factor balancing test. (source: http://en.wikipedia.org/wiki/Fair_use)
The information of medicine and health contained in the site are of a general nature and purpose which is purely informative and for this reason may not replace in any case, the council of a doctor or a qualified entity legally to the profession.
The following texts are the property of their respective authors and we thank them for giving us the opportunity to share for free to students, teachers and users of the Web their texts will used only for illustrative educational and scientific purposes only.
All the information in our site are given for nonprofit educational purposes
The information of medicine and health contained in the site are of a general nature and purpose which is purely informative and for this reason may not replace in any case, the council of a doctor or a qualified entity legally to the profession.
www.riassuntini.com