tariff

noun
tar·​iff | \ ˈter-əf How to pronounce tariff (audio) , 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

However, a big part of that growth reflected a temporary rush to ship soybeans and other U.S. exports out before penalty tariffs triggered by Trump's get-tough trade policies took effect. Martin Crutsinger, Fox News, "US economy grew at robust 4.2 percent rate in Q2," 27 Sep. 2018 Car assemblers and part makers are already paying more for steel and aluminum due to tariffs. Mike Colias, WSJ, "New Tariffs Threaten to Boost Prices of Imported Cars and Parts," 15 Feb. 2019 First, if China did agree to lower tariffs on American cars, other countries with competitive automotive sectors would likely benefit more than the US. Alex Ward, Vox, "Trump’s car deal with China is great — for other countries," 3 Dec. 2018 For workers, more pain may be coming, as economists are concerned that prices could rise further due to President Trumps tariffs on many foreign imports. Heather Long, chicagotribune.com, "Inflation hits 6-year high, wiping out wage gains for the average American," 13 July 2018 Issues such as tariffs and even the trade deficit — America has a huge trade deficit with China, and Trump very much wants to reduce it — are areas where experts say progress seems possible. Jen Kirby, Vox, "The 7 biggest foreign news stories to watch in 2019, from Brexit to North Korea," 24 Dec. 2018 There are many reasons for the layoffs, including Trump's new tariffs, which GM warned could add more than $700 million to its costs this year. Ezra Dyer, Popular Mechanics, "The Sedan Continues to Die as GM Cuts Production," 26 Nov. 2018 Avoiding those high tariffs is the reason Apple started building the iPhone SE and 6S in India. Chaim Gartenberg, The Verge, "Apple will reportedly start assembling its premium iPhone models in India," 27 Dec. 2018 That’s in part because tariffs are now acutely hurting parts of the US and China is starting to experience an economic slowdown. Jen Kirby, Vox, "The 7 biggest foreign news stories to watch in 2019, from Brexit to North Korea," 24 Dec. 2018

Recent Examples on the Web: Verb

Farmers remain optimistic Despite a tricky year ahead for many American farmers, Fox News could not find a single one at the Iowa State Fair who called Trump’s tariffs the wrong move. Emilie Ikeda, Fox News, "State fairs serve as unique opportunity for farmers to talk tariffs," 19 Aug. 2018 To some, the market’s calm also reflects the outlook that tariffs won’t substantially threaten corporate profits. Ben Eisen, WSJ, "U.S. Stocks Resilient in Trade Spat, Sparking Complacency Fears," 15 July 2018 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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First Known Use of tariff

Noun

1592, in the meaning defined at sense 1a

Verb

circa 1828, in the meaning defined above

History and Etymology for tariff

Noun

Italian tariffa, from Arabic taʽrīf notification

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Learn More about tariff

Dictionary Entries near tariff

tari

Tariana

Tarifa, Cape

tariff

tariffless

tariff wall

Tarija

Statistics for tariff

Last Updated

17 Mar 2019

Look-up Popularity

Time Traveler for tariff

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

tariff

noun
tar·​iff | \ ˈter-əf How to pronounce tariff (audio) \

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 How to pronounce tariff (audio) \

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

History and Etymology for tariff

Italian tariffa, from Arabic taʽrīf notification

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More from Merriam-Webster on tariff

Rhyming Dictionary: 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

Comments on tariff

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