word
tariff binding
TAR-if BY-ding
ˈtærɪf ˈbaɪndɪŋListen
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Syllable breakdown
tariffbinding
Dictionary meaning
a WTO commitment by a member country to set a ceiling on the customs duty rate applied to a particular product and not raise it above that bound rate without negotiation and compensation to affected trading partners; provides predictability in trade relations
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