Recent Examples of tariff from the Web
That does not take into account, however, an international trade case where officials recommended Tuesday to limit imports on certain solar components and impose tariffs up to 35 percent on some products.
Analysts note that the luxury Tesla Model S and Model X cars now exported to China from the company’s sole assembly plant — in Fremont, Calif. — are saddled with the tariff anyway.
Harley said the plant was necessary for the Asian market, partly because the Thailand tariff on motorcycles assembled in the U.S. is about 60%.
The decision on whether to impose a tariff now falls to the Trump administration.
What exactly President Trump plans to do to bring more manufacturing stateside remains to be seen, other than renegotiating trade deals and raising tariffs on imports.
The tariff proposals are lower than requested by Suniva Inc.
Existing tariffs are an insufficient deterrent, Suniva says.
As Nelson Denis wrote for the New York Times Monday: Under the law, any foreign registry vessel that enters Puerto Rico must pay punitive tariffs, fees and taxes, which are passed on to the Puerto Rican consumer.
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
TARIFF Defined for Kids
legal Definition of tariff
Origin and Etymology of tariff
Seen and Heard
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