tariff
Pronunciation: [ˈtærɪf]
Word
Context: "economics"
(noun) a tax that a government places on goods coming into the country. It makes imported items cost more, so people might choose to buy local products instead.
Example
The government decided to lower the tariff on imported cars to encourage more sales.
Example
The high tariff on electronics made it too expensive for many families to buy new devices.
Example
What will happen to prices if the tariff on imported goods is increased?
Context: "trade"
(noun) a list of rates or prices for services, especially in shipping or insurance. It helps businesses know how much they will pay for transport or coverage.
Example
The shipping company provided a detailed tariff so we could understand the costs.
Example
Without a clear tariff, we couldn't figure out what we needed to pay for the delivery.
Example
Can you explain the tariff rates for international shipping?
0s0s