Rule of reason
Rule of reason: a method used in the administration of competition policy to ascertain whether an ostensibly anti-competitive business practice may have a balancing pro-competitive impact. If this is the case, competition authorities may decide not to take action if the law gives them that flexibility. See also antitrust laws and per se rules. Rules of origin: ROOs. Laws, regulations and administrative rulings applied by governments to determine the country of origin of goods, services or investment. A decision by a customs authority on origin can determine whether a shipment falls within a quota limitation, qualifies for a tariff preference or is affected by an anti-dumping duty. These rules vary from country to country. ROOs have become increasingly complex as a consequence of the globalization of production processes and the proliferation of free-trade areas. As the origin of a product can have a significant bearing on its cost in the import market and therefore its competitiveness, i.e. it may enter the market free of tariffs if it comes from a particular area, ROOs can be one of the considerations leading to an investment decision. There are three main ways for deciding for admission purposes where a product originates. First, there is the change in tariff heading, based on whether a product has been sufficiently transformed in the exporting country to be classified now under a different chapter in the national tariff schedule. Second, an assessment can be made in terms of the value that may have been added to the product in the exporting country. Third, the origin may be determined in terms of specific processing operations necessary to give the product its current characteristics. The
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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