- Barkley HoundLv 76 months agoFavorite Answer
A tax paid by the exporter of a product to the country it is being sent to. That is how the US financed itself before income taxes.
- Lord BaconLv 75 months ago
The word is used in a couple contexts and has a slightly different meaning in each. It usually means fees or taxes that have to be paid. They may be based on the value of the item in question or the size of the thing in question or the number of things there are.
Tariffs are often referred to in the context of imposing extra fees on imported goods. This increases to cost to the end-user, making non-imported items seem like better value and helping to protect less efficient domestic producers who are unable to compete in an open market.
- 6 months ago
a tax or duty to be paid on a particular class of imports or exports.