What Is a Tariff?
Customs duties on merchandise imports are called tariffs (WTO).
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1.What is a tariff?
Customs duties on merchandise imports are called tariffs (WTO).
2.What are the two main reasons governments use tariffs?
The WTO page lists revenue and a price advantage for domestic goods over similar imports.
3.What is the difference between an ad valorem and a specific tariff?
A percentage sticker versus a flat fee per box; only the way of counting differs (WTO glossary).
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Sources (9)
- WTO, Tariffs (Seite "Tariffs: more bindings and closer to zero")
- WTO Glossary (Eintraege ad valorem tariff, specific tariff, customs duty)
- CBP, Tips for New Importers and Exporters
- Smoot-Hawley Tariff Act, Wikipedia
- Eigene Rechnung: synthetisches Zollbeispiel (Sendung, Prozentzoll, Mengenzoll, Regalpreis)
- CFR, "This Week in Earth Remembers: Herbert Hoover signs Smoot-Hawley tariff law"
- U.S. Department of State, Office of the Historian: Protectionism in the Interwar Period
- U.S. Senate, S.Res. 281 (119th Congress), Text auf govinfo.gov
- EBSCO Research Starters: Hawley-Smoot Tariff Act of 1930
Education only. Not financial advice.