Recent Examples of tariff from the Web
Last week, Ryan issued a statement opposing the president's decision to impose tariffs even on America's allies.
After the Trump administration moved to impose tariffs on steel and aluminum imports from U.S. allies in Europe and North America, retaliatory measures were announced and angry messages sent.
What, specifically, are the effects of these tariffs likely to be?
Indeed, while Trump may seem hellbent on divisive wall-talk and trade tariffs, conversations around the thriving heartbeat of Mexico have never been louder, nor has the capital welcomed more outsiders.
Then Trump masterfully distracted people with talk of pardons and announced tariffs on metals imported from our European and North American allies.
The administration on Thursday imposed tariffs on steel and aluminum imports from key allies in Europe, Canada, and Mexico.
Instead, a set of tariffs your administration imposed at midnight has us worried that our signature spirit's sales could soon slip.
Trudeau, who is embroiled in trade discussions with Trump and has received an exemption to U.S. steel tariffs, must look for consensus on a host of issues on which Trump is at odds with his allies.
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.
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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