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imperial preference

Line breaks: im|per¦ial pref¦er|ence

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.
Example sentences
  • 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.

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