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The Japan Crude Cocktail (JCC) is the informal nickname given to the pricing index of Crude Oil used in most East Asian countries. [1] The JCC is the average price of customs-cleared crude oil imports into Japan and is published by the Petroleum Association of Japan. [2] The official name of the JCC is the Japan Customs-cleared Crude Oil Price. [3]
Global map of countries by tariff rate, applied, weighted mean, all products (%), 2021, according to World Bank.. This is a list of countries by tariff rate.The list includes sovereign states and self-governing dependent territories based upon the ISO standard ISO 3166-1.
The diagrams at right show the costs and benefits of imposing a tariff on a good in the domestic economy. [66] Imposing an import tariff has the following effects, shown in the first diagram in a hypothetical domestic market for televisions: Price rises from world price Pw to higher tariff price Pt.
Import parity price or IPP is defined as, “The price that a purchaser pays or can expect to pay for imported goods; thus the c.i.f. import price plus tariff plus transport cost to the purchaser's location. This and the export parity price together define a range of the possible equilibrium prices for equivalent domestically produced goods”. [1]
Transport costs sever the link between exchange rates and the prices of goods implied by the law of one price. As transport costs increase, the larger the range of exchange rate fluctuations. The same is true for official trade restrictions because the customs fees affect importers' profits in the same way as shipping fees.
Suppose initially the US exports 60 million tons of goods to Japan and imports 100 million tons of other goods under an exchange rate of $.01/yen and prices of $1/ton and 100 yen/ton, for a trade deficit of $40 million. The initial effect of dollar depreciation to $.011/yen is to make imports cost $110 million, and the deficit rises to $50 million.
Suppose that the US imports widgets from the UK. The widgets cost $10 and £1 costs $1. Then the British Pound appreciates against the dollar and now £1 costs $1.50. Also suppose that the widgets now cost $12.5 There has been a 50% change in the exchange rate and a 25% change in price. The exchange rate pass-through is
Dumping, in economics, is a form of predatory pricing, especially in the context of international trade.It occurs when manufacturers export a product to another country at a price below the normal price with an injuring effect.