Definition of imperial preference in English:
noun[mass noun] historical
A system of tariff concessions granted by members of the British Empire or Commonwealth to one another.
- A century of free trade was buried at the Ottawa Conference in 1932 when a new commercial system of tariffs and imperial preference, due to last until the 1970s, was inaugurated.
- Breaking down this sterling zone and British system of imperial preference became a central US goal.
- The Lyons government that replaced it at the end of 1931 modified the tariff to provide for imperial preference but did little to reduce protection in a world economy that had abandoned free trade.
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.
Most popular in the US
Most popular in the UK
Most popular in Australia
Most popular in Malaysia
Most popular in India
Most popular in Pakistan