Two of the sources said the framework may be similar to the one agreed with Britain in May. In that deal, the U.S. cut tariffs on British-made cars to 10% and British carmakers received a import quota ...

Import quotas allow a certain amount of an item to be imported, preventing a tax from adding to the final price paid by consumers.

The import quota was originally set by a presidential Cabinet Committee in February; at that time it was ruled that imports should not exceed the level of 1954, when they accounted for 16.6% of ...

TRQs are Tariff-Rate Quotas. We set very tiny quotas for the amount of dairy product that can be imported at low or zero tariffs, and above that the rate is so prohibitive that imports cease entirely.

Trade negotiations between the US and Mexico are homing in on a possible quota system to reduce tariffs on a certain volume of steel imports, a move seen as assuaging concerns of American ...