tariff

noun

tar·iff | \ˈter-əf,

ˈta-rəf\

Definition of tariff

(Entry 1 of 2)

1a : 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

tariff

verb

tariffed; tariffing; tariffs

Definition of tariff (Entry 2 of 2)

transitive verb

: to subject to a tariff

Examples of tariff in a Sentence

Recent Examples on the Web: Noun

Trump's list of additional tariffs is now subject to a two-month public comment period. — Patrick Brzeski, The Hollywood Reporter, "Will Hollywood Get Caught in Trump's China Trade War Crossfire?," 13 July 2018 The company filed for a two-year exemption last month and sent postcards to Trump, Gov. Greg Abbott and other high-level officials explaining that company faced substantially higher import costs as a result of the steel tariffs. — Katherine Blunt, Houston Chronicle, "Baytown steel plant denied steel tariff exemption," 12 July 2018 Bob Morgan, president of the Charlotte Chamber, has been surveying chamber members about the tariffs. — Deon Roberts, Jim Morrill And Hannah Lang, charlotteobserver, "From breweries to the farm, Trump tariff war produces winners and losers in Charlotte," 12 July 2018 On Friday, Trump initiated the first tariffs on some of the U.S.'s top trading partners. — Seth Slabaugh, Indianapolis Star, "Sen. Joe Donnelly needs to keep his pro-Trump voters. But can he?," 12 July 2018 It’s trade war day: The Trump administration has started to impose tariffs on $34 billion of Chinese products. — Recode Staff, Recode, "Recode Daily: EPA chief Scott Pruitt is the seventh cabinet-level person to leave the Trump administration," 6 July 2018 But even though corporate profits are running hot, the trade tariffs threaten to cool future expectations. — Tom Hudson, miamiherald, "Earnings energy taxed by tariffs," 5 July 2018 By Rodger Mallison Trump announced the steel and aluminum tariffs earlier this year, targeting some of the United States' closest allies, such as the European Union, Canada and Mexico. — Matthew Choi, star-telegram, "Greg Abbott to Donald Trump: Steel and aluminum tariffs will harm Texas oil and gas," 29 June 2018 He was expected to discuss the European Union's concerns about the Trump Administration's tariffs on steel, aluminum, and Spanish black olives in a bilateral meeting. — Sam Dangremond, Town & Country, "King Felipe and Queen Letizia of Spain Are Visiting the White House Today," 19 June 2018

Recent Examples on the Web: Verb

China tariffs only went into effect on Friday and metals tariffs have been assessed for about one month. — Bob Davis, WSJ, "U.S. Economic Strength Gives Trump Leeway in Trade Fight With China," 6 July 2018 Trump’s latest salvo in a brewing trade war would mean a sizable amount of Chinese goods shipped to the U.S. would be exposed to tariff threats and raises new questions about the impact on American consumers. — Fortune, "President Trump Targets $200 Billion in Chinese Imports as Trade Spat Grows," 19 June 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'tariff.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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Last Updated

13 Oct 2018

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The first known use of tariff was in 1592

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More Definitions for tariff

tariff

noun

Financial Definition of tariff

What It Is

A tariff is a tax on imports or exports. Money collected under a tariff is called a duty or customs duty. Tariffs are used by governments to generate revenue or to protect domestic industries from competition.

How It Works

There are generally two types of tariffs. Ad valorem tariffs are calculated as a fixed percentage of the value of the imported good. When the international price of a good rises or falls, so does the tariff. A specific tariff is a fixed amount of money that does not vary with the price of the good. In some cases, both the ad valorem and specific tariffs are levied on the same product.

For example, Company XYZ produces cheese in Scotland and exports the cheese, which costs $100 per pound, to the United States. A 20% ad valorem tariff would require Company XYZ to pay the U.S. government $20 to export the cheese. A specific tax would involve charging $30 dollars per pound of cheese whether cheese sold for $100 or $200 per pound.

Why It Matters

Import and export taxes make it more expensive for users of foreign goods, causing a decline in imports, a decline in the supply of the good, and a resulting increase in the price of the good. The price increase usually motivates domestic producers to increase their output of the product.

Some economists argue that the resulting higher consumer prices, higher producer revenues and profits, and higher government revenues make tariff s a way to effectively transfer money from consumers to government treasuries. Some economists also argue that tariffs interfere with free market ideals by diverting resources to domestic industries that are less efficient than foreign producers.

Source: Investing Answers

tariff

noun

English Language Learners Definition of tariff

: a tax on goods coming into or leaving a country

: a list of prices charged by a hotel or restaurant for meals, rooms, etc., or by a public company for gas, electricity, etc.

See the full definition for tariff in the English Language Learners Dictionary

tariff

noun

tar·iff | \ˈter-əf

Kids Definition of tariff

1 : a list of taxes placed by a government on goods coming into a country

2 : the tax or the rate of taxation set up in a tariff list

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tariff

noun

tar·iff | \ˈtar-əf

Legal Definition of tariff

1a : 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 document filed with the appropriate government agency that sets forth the rates, charges, and other provisions pertaining to services furnished by a business (as a carrier) or public utility