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Meaning of “compound tariff” in the English Dictionary

"compound tariff" in Business English

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compound tariffnoun [C]

uk   us  
COMMERCE, TAX a tax on imported goods that is a combination of a fixed amount and an amount based on the value of the goods: Processed cherry products in the US were protected at the time by a compound tariff of 6.9 cents per kilogram plus 4.5% of the product price.
(Definition of compound tariff from the Cambridge Business English Dictionary © Cambridge University Press)
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