Recent Examples of tariff from the Web
Earlier this month, in a bid to punish Beijing for stealing American intellectual property, Trump announced plans to impose tariffs on a long list of Chinese imports.
Global markets teetered with uncertainty as Trump threatened to impose tariffs on another $100 billion of goods last week, but have rallied in the wake of Xi’s remarks.
The back-and-forth began last month, when the Trump Administration imposed tariffs on Chinese steel and aluminum.
The impact of tariffs in those regions is real, Muro said.
Prices for soybeans, corn and wheat dropped in anticipation that China will hit U.S. exports hard if Trump goes through with a plan to impose tariffs on another $100 billion in Chinese imports.
Trump fired back on Thursday, threatening to impose tariffs on an additional $100 billion in Chinese goods.
Instead, later Thursday night, Trump doubled down on his definitely-not-a-trade-war with China, threatened to impose tariffs on an additional $100 billion of Chinese imports, on top of the $50 billion announced last week.
China, in turn, threatened to impose tariffs on 106 U.S. goods ranging from airplanes to soybeans.
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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