tariff
Intermediatezipf 3.49Pronunciation
/ˈtærɪf/(TAR-if)
Part of speech
nouneconomics / trade
Chinese
关税
Definition
A tax imposed by a government on imported goods, raising their price to protect domestic industries from foreign competition or to generate revenue.
Word family
- (related: duty
- levy
- customs)
Collocations
- impose tariffs
- tariff barriers
- tariff rate
- retaliatory tariffs
- tariff war
- tariff reduction
- tariff-free
Examples
- 1.The US-China trade war saw tariffs on hundreds of billions of dollars of goods, with both sides imposing retaliatory duties that raised prices for consumers and disrupted supply chains. (trade conflict)
- 2.Tariffs protect domestic industries in the short term but raise prices for consumers and can provoke retaliation — the 1930 Smoot-Hawley Tariff deepened the Great Depression by triggering a global trade war. (economic consequences)
Synonyms
- customs duty (tax on imports at the border)
- import tax (tax on foreign goods)
- levy/ˈlɛvi/— a tax or fee imposed
Etymology
from Arabic "ta'rifa" (notification, inventory of fees) — from "arrafa" (to make known) — the published list of charges