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Definition. Import quota that allows a limited quantity of specified merchandise into a country (or withdrawal of already imported merchandise from a bonded warehouse) for consumption at a reduced duty rate during a specified period. Also called tariff quota.
A government-imposed trade restriction that limits the number, or in certain cases the value, of goods and services that can be imported or exported during a particular time period.Quotas are used in international trade to help regulate the volume of trade between countries.They are sometimes imposed on specific goods and services to reduce imports, thereby increasing domestic production. In theory, this helps protect domestic production by restricting foreign competition.uotas are used in international trade to help regulate the volume of trade between countries. They are sometimes imposed on specific goods and services to reduce imports, thereby increasing domestic production.