duty reduction
[ˈduːti rɪˈdʌkʃən]
nounpl: duty reductions
redução de tarifa
1. A decrease in the amount of customs tax or import/export fee levied on goods
The duty reduction on imported automobiles will make cars more affordable for consumers.
A redução de tarifa sobre automóveis importados tornará os carros mais acessíveis aos consumidores.
2. A government policy or trade agreement that lowers the percentage or amount of duties owed
The trade agreement includes a duty reduction schedule over five years.
O acordo comercial inclui um cronograma de redução de tarifa ao longo de cinco anos.
Duty reduction is a significant topic in international trade negotiations. In Brazil, such reductions are particularly relevant given the country's active participation in MERCOSUR and bilateral trade agreements. The term is formal and technical, used primarily in governmental, commercial, and legal contexts rather than everyday conversation.
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