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English definition of “tariff”

tariff

noun [C]
 
 
/ˈtærɪf/
TAX, ECONOMICS, COMMERCE a tax on goods coming into or going out of a country: Prices and tariffs change all the time, so it's difficult to say what you will get for your money.a tariff on sth The tariff on optical cables is 8.4%.impose/set/reduce tariffs The US has imposed new tariffs on chocolate from Brazil.cut/eliminate/remove tariffs An agreement was reached to eliminate tariffs on information technology products.high/low/steep tariffs on sth High tariffs on furniture imports are still imposed by some developing countries to protect local carpenters.tariff barriers/protection/rates The protectionist wall of high tariff barriers and import restrictions is being breached. an increase/a reduction in tariffs agricultural/industrial tariffs customs/export/import tariffs tariff concessions/cuts/reductions
COMMERCE a list of fixed prices charged by a company for services, by a hotel for rooms, etc.: Many smaller competitors have entered the market to undercut the company's telephone tariffs. Environment Energy offers a no-premium green electricity tariff.
→ See also ad valorem, compound tariff, multiple tariff, protective tariff, punitive tariff, retaliatory tariff, revenue tariff
(Definition of tariff from the Cambridge Business English Dictionary © Cambridge University Press)
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