Construct · 1 fields · 1 citations

tariff: a standalone construct

One name. One construct. A landmark on the map.

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tariff1 CONSTRUCTTrade tariffJOHNSON · IMPORT TAX

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International economics

A tax on imported goods

A tax that a government levies on goods as they cross its border, most often on imports, charged either to raise revenue or to shield domestic producers from foreign competition. A tariff can be set as a fixed amount per unit or as a percentage of the good's value, and by raising the home price of the taxed good it changes how much is traded and how the gains from trade are shared. Johnson's 1953 Optimum Tariffs and Retaliation analysed the tariff level a large country could use to turn the terms of trade in its favour, and how retaliation by trading partners can leave everyone worse off. The referent is a border tax on merchandise, measured as a rate and studied for its effect on trade and welfare, not a schedule of prices filed by a utility or a prison term fixed by a judge.[1]

Unit
One border tax on a class of imported goods, as a rate per unit or a percentage of value
Recovery means
Not applicable
Measured by
Read from a country's tariff schedule and summarised as average or effective tariff rates

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Nearby constructs

duty4 fields · 4 citationsjingle · one word, four constructssentence3 fields · 3 citationsjingle · one word, three constructsretaliation6 fields · 17 citationsjingle · one name, six constructs

References

  1. Johnson, H. G. (1953). Optimum tariffs and retaliation. The Review of Economic Studies, 21(2), 142–153. https://doi.org/10.2307/2296006

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