What is the difference between a trade bloc and what is commonly called a tariff?

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What is the difference between a trade bloc and what is commonly called a tariff?

2007-03-03 05:25:16 · 1 answers · asked by sweet 1 in Education & Reference ➔ Words & Wordplay

1 answers

A trade (or trading) bloc is a group of countries which have coordinated their trading policies with respect to countries not in that bloc. A tariff is a particualr policy which a country (or for that matter a trading bloc) way adopt to tax particular classes of imports at some rate(s).

2007-03-03 05:59:52 · answer #1 · answered by CanProf 7 · 0⤊ 0⤋