Definition, Meaning & Synonyms
tariff
noun
/ˈtærɪf/
Definition
A tariff is a tax imposed by a government on goods and services imported from other countries.
Examples
- The government raised tariffs on steel imports to protect local manufacturers.
- During trade negotiations, tariffs became a major point of contention between the two countries.
- Consumers noticed an increase in prices due to the new tariffs on electronics.
Meaning
Tariffs are used to regulate foreign trade and can affect the prices of imported items, making them more expensive.
Synonyms
- duty
- tax
- levy
- fee
