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TeachMeFinance.com - explain Tariff rate quota Tariff rate quota The term 'Tariff rate quota ' as it applies to the area of agriculture can be defined as ' A trade policy tool used to protect a domestically-produced commodity or product from competitive imports. A tariff rate quota (TRQ) combines two policy instruments that nations historically have used to restrict such imports: quotas and tariffs. In a TRQ, the quota component works together with a specified tariff level to provide the desired degree of import protection. Imports entering during a specific time period under the quota portion of a TRQ are usually subject to a lower, or sometimes a zero, tariff rate. Imports above the quota’s quantitative threshold face a much higher (usually prohibitive) tariff. Currently, TRQs apply to U.S. imports of certain dairy products, beef, cotton, peanuts, sugar, certain sugar-containing products, and tobacco'. Previous 5 Terms: Targeted mutagenesis Targeting tariff Tariff Tariff Act of 1930 Next 5 Terms: Tariff schedule Tariffication tarpan taseometer tasimeter About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.