Meaning & Definition of word "Tariff"
Tariff
/ˈtærɪf/
noun:
- 1. A government-imposed fee or tax on imported or exported goods.
- Example: The new tariff on steel imports has raised the cost for domestic manufacturers.
- 2. A schedule of rates or prices for services, especially a list of prices for a public utility.
- Example: The local water authority updated its tariff, increasing charges for excessive water use.
- 3. A list or table of rates or charges for specific services or commodities.
- Example: The airline provided a detailed tariff for its international flight services.
Etymology
●From Middle French 'tarif', from Arabic 'taʕārīf', meaning 'notification' or 'to inform'.
Common Phrases and Expressions
protectionist tariff:
A tariff protecting domestic industries from foreign competition.
customs tariff:
A tax imposed on imports and exports.
tariff barrier:
A restriction on trade that results from the imposition of tariffs.
Related Words
duty:
A kind of tax imposed on goods.
levy:
A legal seizure of property to satisfy a debt.
Slang Meanings of tariff
Meaning: Tariffing
● Example Sentence: He was tariffing a lot of baggage during the customs check.
Meaning: Taxman
● Example Sentence: The taxman is hitting us hard with these new tariffs.