trade tariffs

Tariff is a tax on imports or exports between sovereign states. It is a form of regulation of foreign trade and a policy that taxes foreign products to encourage or safeguard domestic industry.

Industrial tariffs are customs duties on non-agricultural merchandise imports, levied either on an ad valorem basis (percentage of value) or on a specific basis (e.g., $1 per 100 pounds). Approximately 96 percent of U.S. merchandise imports are industrial (non-agricultural) goods.

(source: ustr.gov)


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