Definition, Meaning & Synonyms

tariffication

Noun

/ˌtærɪfɪˈkeɪʃən/

Definition

The process of converting non-tariff barriers to trade into tariffs.

Examples

For countries looking to improve trade relations, tariffication of agricultural products can be a significant step.
Tariffication allows for more predictable trade costs and can simplify international trade agreements.
After the tariffication process, several goods saw a reduction in trade restrictions.

Meaning

Tariffication refers to the method of assessing tariffs (taxes on imports) to replace or reform non-tariff barriers that may impede trade, such as quotas or regulations.