Tariff

tariffscustoms dutyimport dutiestollimport dutyimport tarifftollsdutycustoms dutiesimport tax
A tariff is a tax on imports or exports between sovereign states.wikipedia
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Protectionism

protectionisttariff reformprotection
His Liberal Unionists had split from the Liberals, who promoted Free Trade, and the speech was a landmark in the group's slide towards Protectionism.
Protectionism is the economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulations.

Import

importsimporterimportation
A tariff is a tax on imports or exports between sovereign states.
The importing and exporting jurisdictions may impose a tariff (tax) on the goods.

Tariff of Abominations

tariff of 18281828protective-tariff bill
A high tariff was attempted in 1828 but the South denounced it as a "Tariff of Abominations" and it almost caused a rebellion in South Carolina until it was lowered.
The Tariff of 1828 was a protective tariff passed by the Congress of the United States on May 19, 1828, designed to protect industry in the northern United States.

Alexander Hamilton

HamiltonHamiltonianA. Hamilton
The intellectual leader of the high tariff movement was Alexander Hamilton, the first Secretary of the Treasury of the United States (1789-1795) and Daniel Raymond were the first theorists to present the infant industry argument, not the German economist Friedrich List.
These programs were funded primarily by a tariff on imports, and later by a controversial whiskey tax.

Export

exportsexporterexported
A tariff is a tax on imports or exports between sovereign states.
A tariff is a tax placed on a specific good or set of goods exported from or imported to a country, creating an economic barrier to trade.

American System (economic plan)

American SystemAmerican System of internal improvementseconomic plan
In the 19th century, statesmen such as Senator Henry Clay continued Hamilton's themes within the Whig Party under the name "American System. Before 1860 they were always defeated by the low-tariff Democrats.
Rooted in the "American School" ideas of Alexander Hamilton, the plan "consisted of three mutually reinforcing parts: a tariff to protect and promote American industry; a national bank to foster commerce; and federal subsidies for roads, canals, and other 'internal improvements' to develop profitable markets for agriculture".

Import substitution industrialization

import substitutionimport substitution industrialisationimport-substitution
The tariff is historically used to protect infant industries and to allow import substitution industrialization.
From these postulates, it derives a body of practices, which are commonly: an active industrial policy to subsidize and orchestrate production of strategic substitutes, protective barriers to trade (such as tariffs), an overvalued currency to help manufacturers import capital goods (heavy machinery), and discouragement of foreign direct investment.

William McKinley

McKinleyPresident McKinleyPresident William McKinley
The conservative Republican tradition, typified by William McKinley was a high tariff, while the Democrats typically called for a lower tariff to help consumers.
McKinley, campaigning mostly on his support for a protective tariff, defeated the Democratic nominee, Levi L. Lamborn, by 3,300 votes, while Hayes won a hotly disputed election to reach the presidency.

International trade

foreign tradeglobal tradetrade
During The Long Depression, the economic slowdown of nations preceded that of foreign trade. This indicates that it is national growth that drives foreign trade.
This is due to the fact that a border typically imposes additional costs such as tariffs, time costs due to border delays, and costs associated with country differences such as language, the legal system, or culture.

Harmonized System

HS codeHS CodesConvention on Nomenclature for the Classification of Goods in Customs Tariffs, as amended 16 June 1960
This is often the transaction value unless a customs officer determines assessable value in accordance with the Harmonized System.
The Harmonized Commodity Description and Coding System, also known as the Harmonized System (HS) of tariff nomenclature is an internationally standardized system of names and numbers to classify traded products.

Report on Manufactures

government investment
In Report on Manufactures which is considered the first text to express modern protectionist theory, he called for customs barriers to allow American industrial development and to help protect infant industries, including bounties (subsidies) derived in part from those tariffs.
He argued these could be achieved through bounties or subsidies to industry, regulation of trade with moderate tariffs (not intended to discourage imports but to raise revenue to support American manufacturing through subsidy), and other government encouragement.

Dumping (pricing policy)

dumpinganti-dumpingantidumping
On 15 June 1903, the Secretary of State for Foreign Affairs, [Henry Petty-Fitzmaurice, 5th Marquess of Lansdowne|the Marquess of Lansdowne]] made a speech in the House of Lords defending fiscal retaliation against countries with high tariffs and whose governments subsidised products for sale in Britain (known as 'bounty-fed products', also called dumping).
An investigation typically looks for damage caused by dumping to community producers, and the level of tariff set is based on the damage done to community producers by dumping.

Customs valuation

Agreements on Customs Valuationappraisementassessment
This is often the transaction value unless a customs officer determines assessable value in accordance with the Harmonized System.
Generally, authorities engage in this process as a means of protecting tariff concessions, collecting revenue for the governing authority, implementing trade policy, and protecting public health and safety.

Bretton Woods system

Bretton WoodsBretton Woods AgreementBretton Woods institutions
However, in more recent years, since the end of the Bretton Woods system in 1971, with the increasing influence of Monetarist schools of thought in the 1980s, and particularly in the face of large sustained trade imbalances, these concerns – and particularly concerns about the destabilising effects of large trade surpluses – have largely disappeared from mainstream economics discourse and Keynes' insights have slipped from view.
The priority of national goals, independent national action in the interwar period, and the failure to perceive that those national goals could not be realized without some form of international collaboration—all resulted in "beggar-thy-neighbor" policies such as high tariffs, competitive devaluations that contributed to the breakdown of the gold-based international monetary system, domestic political instability, and international war.

Customs

customs dutiescustom dutiescustoms service
A Customs authority in each country is responsible for collecting taxes on the import into or export of goods out of the country.
A customs duty is a tariff or tax on the importation (usually) or exportation (unusually) of goods.

Indirect tax

indirect taxationindirect taxesindirect
A customs duty or due is the indirect tax levied on the import or export of goods in international trade.
An indirect tax (such as sales tax, per unit tax, value added tax (VAT), or goods and services tax (GST), excise, tariff) is a tax collected by an intermediary (such as a retail store) from the person who bears the ultimate economic burden of the tax (such as the consumer).

Free market

free-marketfree enterprisefree markets
Neoclassical economic theorists tend to view tariffs as distortions to the free market.
Proponents of the concept of free market contrast it with a regulated market, in which a government intervenes in supply and demand through various methods — such as tariffs — used to restrict trade and to protect the local economy.

Free trade

trade liberalizationfree-tradetrade liberalisation
His Liberal Unionists had split from the Liberals, who promoted Free Trade, and the speech was a landmark in the group's slide towards Protectionism.
However, most governments still impose some protectionist policies that are intended to support local employment, such as applying tariffs to imports or subsidies to exports.

Beggar thy neighbour

beggar thy neighborbeggar-thy-neighbor
In this case, the welfare of the other country grows worse simultaneously, thus the policy is a kind of beggar thy neighbor policy.
The term was originally devised to characterise policies of trying to cure domestic depression and unemployment by shifting effective demand away from imports onto domestically produced goods, either through tariffs and quotas on imports, or by competitive devaluation.

Trade barrier

trade barriersexport controlbarriers to trade
Trade barrier
Barriers take the form of tariffs (which impose a financial burden on imports) and non-tariff barriers to trade (which uses other overt and covert means to restrict imports and occasionally exports).

Ad valorem tax

ad valoremad valorem'' taxad valorem property tax
Ad valorem tax
An ad valorem tax may also be imposed annually, as in the case of a real or personal property tax, or in connection with another significant event (e.g. inheritance tax, expatriation tax, or tariff).

Non-tariff barriers to trade

non-tariff barriersnon-tariff barrierexport quota
Non-tariff barriers to trade
Non-tariff barriers to trade (NTBs) or sometimes called "Non-Tariff Measures (NTMs)" are trade barriers that restrict imports or exports of goods or services through mechanisms other than the simple imposition of tariffs.

Eco-Tariffs

carbon tariff
Environmental tariff
These trade barriers may take the form of import or export taxes on products that have a large carbon footprint or are imported from countries with lax environmental regulations.

List of tariffs

List of tariffs and trade legislation
List of tariffs
This is a list of tariffs and trade legislation:

General Agreement on Tariffs and Trade

GATTGeneral Agreement on Tariffs and Trade (GATT)GATT 1994
General Agreement on Tariffs and Trade (GATT)
General Agreement on Tariffs and Trade (GATT) was a legal agreement between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas.