tariff

noun tar·iff \ ˈter-əf , ˈta-rəf \

Updated on: 12 May 2018

Definition of tariff

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

See tariff defined for English-language learners

See tariff defined for kids

Recent Examples of tariff from the Web

New related to the tariffs were negative 90 percent of the time, according to the study.

— brian flood, Fox News, "Trump bashing overwhelms ABC, NBC, CBS evening newscasts, study shows," 8 May 2018
Investors have become used to fluctuating narratives in 2018: The U.S. and China will or won’t go to the barricades on trade, President Trump will or won’t exempt allies from metal tariffs, Tesla will or won’t run out of money.

— nathaniel taplin, WSJ, "Global Trade Is Already Weakening, War or Not," 8 May 2018
What's more, the outfit projects the tariffs would add to the upward pressure on inflation.

— tory newmyer, Washington Post, "The Finance 202: Even a limited trade war with China could really cost the U.S. economy," 7 May 2018
The pace of hiring has yet to be disrupted by dramatic global market swings, a recent pickup in inflation and the risk that the tariffs being pushed by President Donald Trump could provoke a trade war.

— josh boak, BostonGlobe.com, "US economy adds a modest 164,000 jobs in April," 4 May 2018
The pace of hiring has yet to be disrupted by dramatic global market swings, a recent pickup in inflation and the risk that the tariffs being pushed by President Donald Trump could provoke a trade war.

— josh boak, chicagotribune.com, "Employers add 164,000 jobs in April, as unemployment rate falls to lowest since 2000," 4 May 2018
That meant the steel tariff covered just 30 percent of all imports, according to Oxford Economics.

— NBC News, "Administration delays steel, aluminum tariffs for Canada, EU and Mexico," 1 May 2018
The president’s decision to delay the tariffs gives breathing room — but also a new deadline — for allies who have been scrambling to secure permanent refuge from the metals duties.

— Fortune, "President Trump Has Delayed a Decision on Steel Tariffs as Negotiations Continue," 1 May 2018
That meant the steel tariff covered just 30 percent of all imports, according to Oxford Economics.

— carol robinson, AL.com, "60-year-old Shelby County man charged with 15 child porn felonies," 30 Apr. 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.

Origin and Etymology of tariff

Italian tariffa, from Arabic taʽrīf notification

NEW! Time Traveler

First Known Use: 1592

in the meaning defined at sense 1a

See Words from the same year

Other Economics Terms

actuary, compound interest, globalization, indemnity, portfolio, rentier, stagflation, usurer

tariff

verb

Definition of tariff

transitive verb

: to subject to a tariff

First Known Use of tariff

circa 1828

in the meaning defined above

See Words from the same year

NEW! Time Traveler

Other Economics Terms

actuary, compound interest, globalization, indemnity, portfolio, rentier, stagflation, usurer

Financial Definition of TARIFF

tariff

noun

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 Defined for English Language Learners

tariff

noun

Definition of tariff for English Language Learners

: 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.

TARIFF Defined for Kids

tariff

noun tar·iff \ ˈter-əf \

Definition of tariff for Students

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

Law Dictionary

tariff

noun tar·iff \ ˈtar-əf \

legal Definition of tariff

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 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

Origin and Etymology of tariff

Italian tariffa, from Arabic taʽrīf notification

Learn More about tariff

See words that rhyme with tariff Spanish Central: Translation of tariff Nglish: Translation of tariff for Spanish speakers Britannica English: Translation of tariff for Arabic speakers Britannica.com: Encyclopedia article about tariff

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tariff

Definition of tariff

Recent Examples of tariff from the Web

Origin and Etymology of tariff

Other Economics Terms

tariff

Definition of tariff

First Known Use of tariff

Other Economics Terms

Financial Definition of TARIFF

What It Is

How It Works

Why It Matters

TARIFF Defined for English Language Learners

tariff

Definition of tariff for English Language Learners

TARIFF Defined for Kids

tariff

Definition of tariff for Students

Law Dictionary

tariff

legal Definition of tariff

Origin and Etymology of tariff

Learn More about tariff

Seen and Heard

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