The country of Argonia imposes an ad valorem tariff of 10 percent on 1 million tons of rice imports,after which an out-of-quota tariff of 80 percent is applied.Which of the following trade policy instruments is Argonia using?

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Argonia is using a tariff-rate quota (TRQ) as it imposes an ad valorem tariff of 10 percent on 1 million tons of rice imports, which represents the in-quota amount. After this limit is reached, an out-of-quota tariff of 80 percent is applied. A TRQ is a trade policy instrument that combines elements of a tariff and a quota, where a lower tariff rate applies to a specified quantity of imports (in-quota) and a higher tariff rate applies to imports that exceed this quantity (out-of-quota). It is commonly used by countries to protect domestic industries while still allowing for some level of imports.

The Country of Argonia Imposes an Ad Valorem Tariff of 10