When South Korea reduces the tariff that Japan (but only Japan) has to pay when it imports cameras into South Korea, which of the following best describes the action?
A) a biased tariff
B) a differential duty
C) a preferential tariff
D) a nontariff

Question

Quizplus · Accepted Answer

This is a case of preferential tariff as it is reducing the tariff for a specific country, Japan, while maintaining the standard tariff for other countries importing cameras into South Korea.

When South Korea Reduces the Tariff That Japan (But Only