tariff

noun

tar·iff | \ ˈter-əf

, 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

Amid concerns of a no-deal Brexit that would have resulted in the reintroduction of tariffs and tougher customs checks, the British government drew up emergency plans and even ran out of storage space to stockpile medicines and food. — Rick Noack, The Seattle Times, "Switzerland wants to declare coffee nonessential for human survival," 12 Apr. 2019 Exporters may have been rushing to beat the punitive tariffs (import taxes) that China had promised to impose (and later did) in retaliation for Trump’s proposed taxes on what the U.S. buys from China. — Brooks Jackson, Philly.com, "Trump's Numbers (Second Quarterly Update) | FactCheck," 11 July 2018 Exports to the United States grew by double digits through most of 2018 despite Trump’s tariff hikes starting in July. — Joe Mcdonald, The Seattle Times, "China exports rise in March, rebounding from slump," 12 Apr. 2019 The official justification for America’s tariffs is to deter Chinese theft of American intellectual property. — Eric Levitz, Daily Intelligencer, "After Trump’s New Tariff Threat, China Seeks Strategy for Retaliation," 11 July 2018 Tesla, which currently assembles all its vehicles at a plant in Fremont, California, raised prices on cars in China after the trade dispute between President Donald Trump and China prompted the tariff hike from 25 percent to 40 percent. — Nathan Bomey, USA TODAY, "Tesla nears plans for China factory as tariffs bring urgency," 10 July 2018 Consider the major provisions of the United States-Mexico-Canada Agreement: Cars assembled in Mexico will need to source more auto parts from North America and fewer from Asia to enter the United States tariff-free. — Matthew Yglesias, Vox, "I’m starting to think Mexico isn’t going to pay for the wall," 20 Dec. 2018 Ryan has been a longstanding critic of the president's aggressive use of tariffs. — CBS News, "Paul Ryan criticizes Trump's China tariffs, saying they aren't "the right way to go"," 11 July 2018 The American trade war against China ramps up, with China imposing tariffs on US pork, soybeans, and yes, autos. — Aarian Marshall, WIRED, "This Week in the Future of Cars: Lofty Goals, Raw Ambition," 7 July 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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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.

See the full definition for tariff in the English Language Learners Dictionary

tariff

noun

tar·iff | \ ˈter-əf

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

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