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Duty / Tariff

A tax imposed by a government on imported goods. It increases the price of foreign goods in the domestic market.

Tariff-rate quota

A two-tiered tariff system where a lower tariff rate is applied to imports within a specific quantity, and a higher tariff rate is applied to imports exceeding that quantity.

Joint resolution of approval

A special type of legislative measure passed by both the House of Representatives and the Senate and signed by the President, having the force of law, used in this bill to specifically approve new food tariffs.

Antidumping duty

A protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value. This is intended to protect domestic industries from 'dumping' practices by foreign competitors.

Countervailing duty

A tariff imposed on imported goods to offset subsidies given to the producers of those goods in the exporting country. It aims to neutralize the unfair competitive advantage created by foreign government subsidies.

Article of food

A broad term in this bill covering food for people, animal feed, agricultural raw materials, packaging for these items, and agricultural inputs like seeds and fertilizers.