tariff
Sign in to savethumb|Import tariff rate across all products, all regions, 1988 to 2020
AI overview
A tariff is a tax that a government places on goods imported from other countries. Tariffs matter because they affect prices consumers pay, influence which products domestic businesses can compete with, and play a role in countries' trade relationships.
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Article
48 sectionsContents
- Etymology
- History
- Ancient Greece
- Britain
- United States
- Colonial period
- Revenue period (1790–1860)
- Civil War (1861–1865)
- Restriction period (1866–1928)
- Great Depression and Smoot–Hawley Tariff (1929–1933)
- Reciprocity period (1934–2016)
- Basic economic analysis
- Optimal tariff
- Impact
- Domestic output, productivity and welfare
- Developing countries
- Arguments used by proponents of tariffs
- Protection of domestic industry
- Infant industry argument
- Unemployment
- National defense
- Autarky
- Trade deficits
- Protection against environmental dumping
- Modern tariff practices
- Russia
- India
- Armenia
- Switzerland
- United States
- Political analysis
- Additional information on tariffs
- Calculation of customs duty
- Harmonized System of Nomenclature
- Customs authority
- Evasion
- Duty-free goods
- Deferment of tariffs and duties
- Digital goods and services
- Export taxes
- See also
- Types
- Trade dynamics
- Trade liberalisation
- Notes
- References
- Sources
- External links
thumb|Import tariff rate across all products, all regions, 1988 to 2020
A tariff, or import tax, is a duty imposed by a national government, customs territory, or supranational union on imports of goods and is paid by the importer. Exceptionally, an export tax may be levied on exports of goods or raw materials and is paid by the exporter. Besides being a source of revenue, import duties can also be a form of regulation of foreign trade and policy that burden foreign products to encourage or safeguard domestic industry. Protective tariffs are among the most widely used instruments of protectionism, along with import quotas and export quotas and other non-tariff barriers to trade.