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- Dictionarytariff/ˈtarɪf/
noun
- 1. a tax or duty to be paid on a particular class of imports or exports: "the reduction of trade barriers and import tariffs" Similar
verb
- 1. fix the price of (something) according to a tariff: "these services are tariffed by volume"
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TARIFF definition: 1. a charge or list of charges either for services or on goods entering a country 2. a charge or…. Learn more.
1. a. : a schedule of duties imposed by a government on imported or in some countries exported goods. b. : a duty or rate of duty imposed in such a schedule. 2. : a schedule of rates or charges of a business or a public utility. 3. : price, charge.
- Overview
- Objectives of tariffs
international trade
Also known as: customs duty, duty
Written byAdamantios A. Pepelasis,
Adamantios A. Pepelasis
Former Professor of Economics, Virginia Polytechnic Institute and State University, Blacksburg.
Gabriel Smith,
Tariffs may be levied either to raise revenue or to protect domestic industries, but a tariff designed primarily to raise revenue also may exercise a strong protective influence, while a tariff levied primarily for protection may yield revenue. Gottfried von Haberler in The Theory of International Trade (1937) suggested that the best way to distinguish between revenue duties and protective duties (disregarding the motives of the legislators) is to compare their effects on domestic versus foreign producers. (See protectionism.)
In 1828 the U.S. Congress passed a tariff that increased the rates on imports into the United States to as much as 50 percent.
Encyclopædia Britannica, Inc.
If domestically produced goods bear the same taxation as similar imported goods, or if the foreign goods subject to duty are not produced domestically, and if there are no domestically produced substitutes toward which demand is diverted because of the tariff, then the duty is not protective. A purely protective duty tends to shift production away from the export industries and into the protected domestic industries or other industries producing substitutes for which demand is increased. On the other hand, a purely revenue duty will not cause resources to be invested in industries producing the taxed goods or close substitutes for such goods, but it will divert resources toward the production of those goods and services upon which the additional government receipts are spent.
a tax that is paid on goods coming into or going out of a country. A general tariff was imposed on foreign imports.
Apr 1, 2024 · A tariff is a tax imposed by one country on the goods and services imported from another country to influence it, raise revenues, or protect competitive advantages.
A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and policy that taxes foreign products to encourage or safeguard domestic industry.
TARIFF definition: 1. an amount of money that has to be paid for goods that are brought into a country: 2. a list of…. Learn more.