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Tariff - Explained

What is a Tariff?

Written by Jason Gordon

Updated at March 29th, 2023

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What is a Tariff? 

A tariff is a customs duty or tax levied on imports of merchandise goods. Most of the time a tariff is an ad valorem tariff (percentage of value) or a specific tariff. Less often, it can be a compound tariff made up of both of these elements applies.

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