tariffs
Pronunciation: [ˈtærɪfs]
Word
Context: “economics”
(noun) a tax that a government puts on goods that are imported from other countries. This makes it more expensive to buy those products from other places, so people might buy things that are made in their own country instead.
Example
The government raised tariffs on imported steel to protect local manufacturers.
Example
Higher tariffs made it harder for consumers to afford imported electronics.
Example
What effects do tariffs have on the prices of products we buy?
Context: “business”
(noun) a list or schedule showing the prices or rates for services, especially in transportation or utilities. This tells customers how much they will pay for using certain services.
Example
The taxi company posted its tariffs clearly on the wall for all passengers to see.
Example
Without knowing the tariffs, I was surprised by the high price of the ride.
Example
Can you show me the tariffs for shipping packages?
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