tariff
TAIR-if
/ˈtær.ɪf/
A tax or duty to be paid on a particular class of imports or exports.
Tariffs are specifically designed to make imported foreign goods more expensive, thereby protecting domestic industries or generating trade revenue.
The story behind the word. From Italian 'tariffa', borrowed from Arabic 'ta'rif' (meaning notification or inventory of official fees), from 'arafa' (to make known or notify). Italian merchants in Mediterranean ports used the term to refer to published price lists and tax duties on incoming shipping cargo.
Word relationships
- duty: 'Duty' is a general financial charge levied on imports, customs, or official documents; 'tariff' specifically refers to the official scheduled tax rate applied to foreign trade categories.
- customs: 'Customs' refers to the government agency and taxes collected at border control points, whereas 'tariff' is the specific tax rate schedule.
- free trade: 'Free trade' eliminates tariffs and trade barriers between international nations.
Commonly confused with
- quota: A tariff is a tax on imported items; a quota is a quantitative limit on how many items can be imported.
Collocations
- import tariff
- protective tariff
- impose tariffs
- retaliatory tariff
- tariff war
Example sentences
- "The country raised its tariff on imported steel to safeguard its domestic manufacturing sector." International Trade Disputes
- "Critics argue that high trade tariffs lead to retaliatory measures and increased costs for local consumers." Economic Policy Analysis
Memory hook
Tariff = TAX on ARRIVING goods at international borders. Tariff = Import tax.
When not to use
Do not use 'tariff' for general internal domestic taxes like sales tax or income tax; tariffs apply across international trade borders.
Fun facts
- Popular myth claims tariff came from the Mediterranean island port of Tarifa, Spain, but linguists confirm it actually comes directly from Arabic 'ta'rif'!
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