Definitions from the Web
Tariffs
Description:
A tariff refers to a tax imposed by a government on imported or exported goods, often used as a measure to protect domestic industries or to generate revenue. Tariffs can be specific (based on the quantity or weight of goods) or ad valorem (based on the value of goods).
Sample Sentences:
- The government imposed a 25% tariff on imported steel.
- Due to the high tariff on luxury cars, their prices in the local market are significantly higher.
- Exporters were delighted to hear that the tariff on agricultural products had been eliminated.
- She was unhappy with the new tariff policy as it would negatively affect her business.
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