Dictionary of Accounting Terms: tariff
tariff
- tax on imports or exports, most often calculated as a percent of the price charged for the good by the foreign supplier. The money collected is duty. A tariff may be imposed as a source of revenue for the government. A more common purpose of tariffs is protection against foreign competition. By raising prices of imported goods relative to the prices of domestic goods, tariffs encourage consumers to buy domestic rather than foreign products.
- schedule of rates or fares in the transportation industry.
Dictionary of Business Terms: tariff
tariff
- federal tax (usually AD valorem) on imports or exports usually imposed either to raise revenue (called a revenue tariff) or to protect domestic firms from import competition (called a protective tariff.
- schedule of rates or charges, usually for freight.
Dictionary of Finance and Investment Terms: tariff
tariff
- federal tax on imports or exports usually imposed either to raise revenue (called a revenue tariff)or to protect domestic firms from import competition (called a protective tariff). A tariff may also be designed to correct an imbalance of payments. The money collected under tariffs is called duty or customs duty.
- schedule of rates or charges, usually for freight.
