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Duty
(redirected from Import duties)

   Also found in: Dictionary/thesaurus, Medical, Legal, Encyclopedia, Wikipedia 0.01 sec.
Duty
A tax on imports, exports, or consumption goods.

Duty
A tax that a country imposes on its imports and, occasionally, exports. A duty exists to make an import more expensive and to thereby encourage people to buy goods produced in their own country. Proponents of their use argue that duties discourage outsourcing of jobs to other countries and make the country more self-sufficient, but most economists agree that they are economically inefficient and some contend that they may ultimately harm the people they are intended to help. A duty is also called a tariff. See also: WTO, International trade, Globalization.

duty
See tariff.


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The soft wheat import duties cover the period between June 1 and -December 31, while the durum import duties are for June and July.
The United States may maintain the additional import duties currently applied to certain EU products, and will not impose the new duties that were announced in January 2009.
Under the pact, the EU would allow imports of up to 45,000 tons of US beef and Washington agreed to roll back plans to slap new import duties on EU products ranging from Roquefort French cheese to Italian mineral water.
 
 
 
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