Home >  Term: retaliation
retaliation

1. The use of an increased trade barrier in response to another country increasing its trade barrier, either as a way of undoing the adverse effects of the latter's action or of punishing it. 2. The formal procedure permitted under the GATT whereby a country may raise discriminatory tariffs above bound levels against a GATT member that has violated GATT rules and not provided compensation.

0 0

Creator

  • Noroc
  •  (Silver) 911 points
  • 100% positive feedback
© 2024 CSOFT International, Ltd.