A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and policy that taxes foreign products to encourage or safeguard domestic industry. Protective tariffs are among the most widely used instruments of protectionism, along with import quotas and export quotas and other non-tariff barriers to trade.
The Navigation Acts, or more broadly the Acts of Trade and Navigation, were a long series of English laws that developed, promoted, and regulated English ships, shipping, trade, and commerce between other countries and with its own colonies. The laws also regulated England's fisheries and restricted foreigners' participation in its colonial trade. While based on earlier precedents, they were first enacted in 1651 under the Commonwealth.
Dumping, in economics, is a kind of injuring pricing, especially in the context of international trade. It occurs when manufacturers export a product to another country at a price below the normal price with an injuring effect. The objective of dumping is to increase market share in a foreign market by driving out competition and thereby create a monopoly situation where the exporter will be able to unilaterally dictate price and quality of the product. Trade treaties might include mechanisms to alleviate problems related to dumping, such as countervailing duty penalties and anti-dumping statutes.
The American Colonies Act 1766, commonly known as the Declaratory Act, was an Act of the Parliament of Great Britain which accompanied the repeal of the Stamp Act 1765 and the amendment of the Sugar Act. Parliament repealed the Stamp Act because boycotts were hurting British trade and used the declaration to justify the repeal and save face. The declaration stated that the Parliament's authority was the same in America as in Britain and asserted Parliament's authority to pass laws that were binding on the American colonies.
The Townshend Acts or Townshend Duties, were a series of British acts of Parliament passed during 1767 and 1768 introducing a series of taxes and regulations to fund administration of the British colonies in America. They are named after the Chancellor of the Exchequer who proposed the program. Historians vary slightly as to which acts they include under the heading "Townshend Acts", but five are often listed:
The Sugar Act 1764 or Sugar Act 1763, also known as the American Revenue Act 1764 or the American Duties Act, was a revenue-raising act passed by the Parliament of Great Britain on 5 April 1764. The preamble to the act stated: "it is expedient that new provisions and regulations should be established for improving the revenue of this Kingdom ... and ... it is just and necessary that a revenue should be raised ... for defraying the expenses of defending, protecting, and securing the same." The earlier Molasses Act 1733, which had imposed a tax of six pence per gallon of molasses, had never been effectively collected due to colonial evasion. By reducing the rate by half and increasing measures to enforce the tax, Parliament hoped that the tax would actually be collected. These incidents increased the colonists' concerns about the intent of the British Parliament and helped the growing movement that became the American Revolution.
The Tea Act 1773 was an Act of the Parliament of Great Britain. The principal objective was to reduce the massive amount of tea held by the financially troubled British East India Company in its London warehouses and to help the struggling company survive. A related objective was to undercut the price of illegal tea, smuggled into Britain's North American colonies. This was supposed to convince the colonists to purchase Company tea on which the Townshend duties were paid, thus implicitly agreeing to accept Parliament's right of taxation. Smuggled tea was a large issue for Britain and the East India Company, since approximately 86% of all the tea in America at the time was smuggled Dutch tea.
The British timber trade was importation of timber from the Baltic, and later North America, by the British. During the Middle Ages and Stuart period, Great Britain had large domestic supplies of timber, especially valuable were the famous British oaks. This timber formed the backbone of many industries such as shipbuilding but not iron smelting which used charcoal derived from the wood of various trees.
The Restraining Acts of early 1775 were two Acts passed by the Parliament of Great Britain, which limited colonial trade in response to both increasing and spreading civil disobedience in Massachusetts and New England, and similar trade restrictions instituted by elected colonial representatives. With time the foment would spread to most of its American Colonies. The first restraining act, known variously as the New England Trade And Fisheries Act, the New England Restraining Act, or the Trade Act 1775, limited the export and import of any goods to and from only Great Britain, Ireland, and the British West Indies; it also prohibited the New England colonies from fishing in the waters off Newfoundland and most of America's Atlantic coast, without special permissions and documentation, and imposed stiff penalties on both perpetrators and administrators if violations occurred. Previously legal or finessed trade between the colonies themselves or with other nations was prohibited, and enforced by naval blockade, effective July 1, 1775. The second restraining act, known also as the Trade Act 1775, similarly limited the export or import of any goods by way of only Great Britain, Ireland, and the British West Indies for most colonies south of New England; it was passed shortly after the first, upon receiving news in April that the colony's trade boycott had spread widely among other colonies. New York, Delaware, North Carolina and Georgia would escape these restraints on trade, but only for a few months.
The Iron Act, also called the Importation, etc. Act 1749, was an Act of the Parliament of Great Britain, which was one of the legislative measures introduced within the system of Trade and Navigation Acts. The Act sought to increase the importation of pig and bar iron from its American colonies and to prevent the building of iron-related production facilities within these colonies, particularly in North America where these raw materials were identified. The dual purpose of the Act was to increase manufacturing capacity within Great Britain itself, and to limit potential competition from the colonies possessing the raw materials.
A bonded warehouse, or bond, is a building or other secured area in which dutiable goods may be stored, manipulated, or undergo manufacturing operations without payment of duty. It may be managed by the state or by private enterprise. In the latter case a customs bond must be posted with the government. This system is widely used in developed countries throughout the world.
The history of the English fiscal system affords the best known example of continuous financial development in terms of both institutions and methods. Although periods of great upheaval occurred from the time of the Norman Conquest to the beginning of the 20th century, the line of connection is almost entirely unbroken. Perhaps, the most revolutionary changes occurred in the 17th century as a result of the Civil War and, later, the Glorious Revolution of 1688; though even then there was no real breach of continuity.
The Molasses Act 1733 was an Act of the Parliament of Great Britain that imposed a tax of six pence per gallon on imports of molasses from non-British colonies. Parliament created the act largely at the insistence of large plantation owners in the British West Indies. The Act was passed not to raise revenue but to regulate trade by making British products cheaper than those from the French West Indies. The Act greatly affected the significant colonial molasses trade.
The Taxation of Colonies Act 1778 was an Act of the Parliament of Great Britain that declared Parliament would not impose any duty, tax, or assessment for the raising of revenue in any of the colonies of British America or the British West Indies. The Act, passed during the American Revolutionary War, was an attempt by Parliament to end the war by conceding one of the early points of dispute.
New Zealand–United Kingdom relations are the bilateral relations between New Zealand and the United Kingdom. New Zealand has maintained a close relationship with Britain, since gaining independence from the United Kingdom.
The history of the lumber industry in the united states spans from the precolonial period of British timber speculation, subsequent British colonization, and American development into the twenty-first century. Following the near eradication of domestic timber on the British Isles, the abundance of old-growth forests in the New World posed an attractive alternative to importing choice timber from the Baltic via the narrow straits and channels between Denmark and Sweden. The easily available timber proved an incredible resource to early settlers, with both domestic consumption and overseas trade fueling demand. The industry expanded rapidly as Americans logged their way across the country. In this pursuit, millions of indigenous peoples were murdered, displaced, and enslaved for the purpose of the timber industry.
The colonial molasses trade occurred throughout the seventeenth, eighteenth and nineteenth centuries in the European colonies in the Americas. Molasses was a major trading product in the Americas, being produced by enslaved Africans on sugar plantations on European colonies. The good was a major import for the British North American colonies, which used molasses to produce rum, especially distilleries in New England. The finished product was then exported to Europe as part of the triangular trade.
The Boston Non-importation agreement was an 18th century boycott that restricted importation of goods to the city of Boston. This agreement was signed on August 1, 1768 by more than 60 merchants and traders. After two weeks, there were only 16 traders who did not join the effort. In the upcoming months and years, this non-importation initiative was adopted by other cities: New York joined the same year, Philadelphia followed a year later. Boston stayed the leader in forming an opposition to the mother country and its taxing policy. The boycott lasted until the 1770 when the British Parliament repealed the acts against which the Boston Non-importation agreement was meant.
