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tariff

Also known as customs duty, tariffs, tariff and trade, tax, tariff and trade

thumb|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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Commons category: Tariffs
P8168: principle of least privilege

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~46 min read

Article

48 sections

Contents

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.