Recent Examples of tariff from the Web
His administration is considering slapping tariffs on up to $60 billion of Chinese imports, focusing on the technology and telecommunications sectors, according to a Reuters report.
Countries facing steep import tariffs are also likely to sue the U.S. for compensation, experts say.
Trump, with an eye on the Rust Belt area so important to him as a point of personal pride and political strength, even reportedly announced his tariff on steel and aluminum imports to help swing this race.
While Amazon has since come to agreements with many states about paying sales tax, Bezos has long viewed it as an unnecessary tariff.
One is to persuade China to drop its tariffs and restrictions.
Thankfully, for the royal family, the shakeups have been less about tariffs and threats about nuclear war and more about becoming more diverse, inclusive, and outspoken as a family unit.
The dollar dipped at the start of the week as concerns over President Donald Trump’s pledge to slap tariffs on foreign steel and aluminum rattled investors.
International sales have fared better, but possible steel and aluminum tariffs threaten to rock the manufacturer overseas.
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
First Known Use: 1592See Words from the same year
First Known Use of tariff
Financial Definition of TARIFF
What It Is
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.
TARIFF Defined for English Language Learners
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
legal Definition of tariff
Origin and Etymology of tariff
Seen and Heard
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