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English definition of “countervailing duty”

countervailing duty

noun [C]
 
 
ECONOMICS, TAX a tax on particular imports in order to make the goods less cheap in comparison with similar, more expensive, goods produced in the importing country: The Commerce Department imposed a 19.3% countervailing duty on all Canadian softwood imports into the US.
(Definition of countervailing duty from the Cambridge Business English Dictionary © Cambridge University Press)
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