TARIFFS Meaning and
Definition
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Tariffs are taxes or duties imposed on imported goods or services by a country's government. They are levied as a percentage of the value of the goods being imported, thereby increasing the price of those goods for domestic consumers. Tariffs are primarily employed as a means to protect domestic industries from competition by making imported goods more expensive and less attractive to consumers.
The primary objective behind the implementation of tariffs is often to shield domestic industries from foreign competition, as well as to promote economic growth and job creation within a country. By increasing the cost of imported goods, tariffs provide a competitive advantage to domestic producers who are not subject to these taxes. This, in turn, creates an environment that encourages consumers to buy domestically produced goods and supports local industries.
Tariffs can also serve as a revenue source for the government, generating income through import taxes. Governments may choose to use these funds to support domestic industries, invest in public services, or reduce budget deficits.
However, critics argue that tariffs can lead to higher prices for consumers, reduced choices, and inefficiency in the market. They can spark trade disputes and retaliation from other countries, which may harm overall economic growth and international relations.
Overall, tariffs are government-imposed taxes on imports, designed to protect domestic industries, create economic advantages for local producers, and generate revenue for the government.
Top Common Misspellings for TARIFFS *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for TARIFFS
Etymology of TARIFFS
The word "tariffs" has an interesting etymology. It originated from the Italian word "tariffa", which referred to a table or list of duties or charges. The Italian term derived from the Arabic word "ta'rif" meaning "to make known" or "to notify". This Arabic word was further derived from the Greek word "tariphē" meaning "notification" or "report". The word eventually made its way into various European languages, including English, as "tariff" or "tariffs". Its meaning expanded to include taxes, duties, or charges imposed on imported or exported goods, as indicated in the present usage of the term.
Conjugate verb Tariffs
CONDITIONAL
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would tariff
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would tariff
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FUTURE
I
will tariff
we
will tariff
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he/she/it
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FUTURE PERFECT
I
will have tariffed
we
will have tariffed
you
will have tariffed
he/she/it
will have tariffed
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will have tariffed
PAST
I
tariffed
we
tariffed
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tariffed
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tariffed
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PAST PERFECT
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had tariffed
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had tariffed
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he/she/it
had tariffed
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had tariffed
PRESENT
I
tariff
we
tariff
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tariff
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tariffs
they
tariff
PRESENT PERFECT
I
have tariffed
we
have tariffed
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have tariffed
he/she/it
has tariffed
they
have tariffed
I
am tariffing
we
are tariffing
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are tariffing
he/she/it
is tariffing
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are tariffing
I
was tariffing
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were tariffing
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were tariffing
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was tariffing
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were tariffing
I
will be tariffing
we
will be tariffing
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will be tariffing
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will be tariffing
I
have been tariffing
we
have been tariffing
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have been tariffing
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has been tariffing
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have been tariffing
I
had been tariffing
we
had been tariffing
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had been tariffing
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had been tariffing
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had been tariffing
I
will have been tariffing
we
will have been tariffing
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will have been tariffing
he/she/it
will have been tariffing
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will have been tariffing
I
would have tariffed
we
would have tariffed
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would have tariffed
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would have tariffed
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would have tariffed
I
would be tariffing
we
would be tariffing
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would be tariffing
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would be tariffing
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would be tariffing
I
would have been tariffing
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would have been tariffing
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would have been tariffing
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would have been tariffing
they
would have been tariffing
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