Duty

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Related to Tariff Rate: Export Tariffs

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.
References in periodicals archive ?
These costs rise continuously with increases in the tariff rate, reaching a maximum with the exclusionary tariff--[t.sub.e] in Figures 1 and 2.
The Clinton administration received a recommendation from the International Trade Commission (ITC) for a scaled remedial tariff rate quota system that would last four years.
The union applies the tariff rate of 6 percent and the non-union country the 20 percent tariff rate.
For one, Philcement, a Phinma company that last year returned to the cement business after a 14-year hiatus, said that the commission's tariff rate was based on a wrong comparison.
'The DOE and NREB must conduct a careful study on the program, especially when it comes to the implementation of the green energy tariff rate, taking into consideration the declining costs of RE technologies.
(PAMPI) filed a petition asking government to keep the most favored nation tariff rate on MDM of chicken at five percent.
Accordingly, the tariff rate for every consumer category, whether residential, commercial or industrial, will remain unchanged until December 2020.
The fiscal 2017 decrease in cargo volumes is offset by annual tariff rate increases as wharfage revenue from cargo movements increased approximately 7.5%.
Without any decisive policy on tariff rates, it is very difficult for Islamabad to attract more investment in power projects.
Different weighting may cause the MFN tariff rate under AFTA to be lower than the MFN tariff rate under ACFTA.
The average duty now stands at USD0.47 per lb, which replaces the average tariff rate of USD0.127 that had been in effect, although Calgon Carbon noted that its tariff with respect to its imports into the US from China continues to be USD0.00.