A charge of 15-20% was levied by the government of Cadmia on the value of automobile accessories imported from a neighboring country. This increased the price of those imported car accessories for the consumers in Cadmia. Which of the following instruments of trade policy is being used by the government of Cadmia?
A. Local content tariff
B. Ad valorem tariff
C. Subsidies
D. Import quotas
E. Antidumping duties
Answer: B. Ad valorem tariff
Business
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