Glossary

• Author: Edwin Laurent
• Pages: 101-108

101

Glossary

GLOSSARY

Adjustment Assistance: The financial and technical support provided for States,

firms, workers and communities to help them adapt to and function

satisfactorily in conditions of increased competition for their products in

overseas and/or domestic markets. This assistance can include help to

Governments to devise alternative revenue collection mechanisms to

replace duties lost as a result of their reduction or elimination of tariffs

on imported goods.

Appellate Body: The WTO group of judges that hears appeals against the

conclusions of Dispute Settlement Panels.

Asymmetry in a Trade Agreement: The different treatment of the sides in a

trading arrangement where the rate of tariff reduction undertaken by the

Parties is not the same, or asymmetrical. One Party could be given a

longer time compared to the other for completing the process. Alternately,

a lesser percentage of its total imports could be subjected to tariff reduction

and elimination, and also, different obligations on the rate or extent of

removal of other barriers to trade could apply.

Barriers to trade – (tariff and non-tariff): Restrictions placed by governments

on imports that take the form of customs duties, charges, limitations on

volume and other measures, whether regulatory or not, which are not

borne by domestic products. These barriers can have the effect of making

imports more expensive and/or reducing their volume or even making

import impossible.