BUSINESS ADMINISTRATION
INTERNATIONAL MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Motor vehicle parts that are imported into the United States are subject to a(n) ____, which is a tax imposed by the government.
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predatory price
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standard
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tariff
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boycott
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embargo
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Explanation:
Detailed explanation-1: -These include specific tariffs, ad valorem tariffs, compound tariffs, tariff-rate quotas, and retaliatory tariffs. A specific tariff is a tax imposed directly onto one imported good and does not depend on the value of that imported good.
Detailed explanation-2: -An increase in the price paid for cars in the U.S. is a consequence of U.S. tariff on imported cars.
Detailed explanation-3: -Customs duty on vehicles brought to India as completely-built units (CBU) will see a hike of 70 per cent in taxation, up from 60 per cent. Even semi-knocked down (SKD) cars, including EVs, will attract tax of 35 per cent, up from 30 per cent.
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