Meaning of “countervailing duty” in the English Dictionary

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"countervailing duty" in Business English

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countervailing dutynoun [ C ]

uk us

ECONOMICS, TAX a tax on particular imports in order to make the goods less cheap in comparison with similar, more expensive, goods produced in the importing country:

The Commerce Department imposed a 19.3% countervailing duty on all Canadian softwood imports into the US.

(Definition of “countervailing duty” from the Cambridge Business English Dictionary © Cambridge University Press)