Which of the following statements regarding tariff-rate quotas is correct?
A. Tariff-rate quotas limit the number of units of merchandise to be entered or withdrawn for consumption during specified periods
B. Tariff-rate quotas limit the value at which merchandise may be sold during specified periods
C. Tariff-rate quotas permit a specified quantity of merchandise to be entered or withdrawn for consumption at a reduced duty rate during a specified period
D. Tariff-rate quotas limit the duty that may be assessed during a specified period
E. Tariff-rate quotas permit unlimited units of merchandise to be entered or withdrawn for consumption during specified periods
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The Answer is: C
Citation: 19 CFR 132.1(b)
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