Glossary of Customs Terms

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Compensation The principle, central to GATT, that any country that raises a tariff above its bound rate, withdraws a binding on a tariff, or otherwise impairs a trade concession must lower other tariffs or make other trade concessions to offset the disadvantage suffered by countries whose exports are affected.
See also: Binding, Bound Rates, Concession, Consultations, General Agreement on Tariffs and Trade,

Compensation Trade Refer to: Countertrade,