Tariff

Tariff

A tariff is a tax on imported goods. All the countries have different tariff regulations and there are five main types: revenue, ad valorem, specific, prohibitive, and protective. When there are no tariffs placed on imported goods it is called free trade.

This information was provided by: http://www.jtrue.com/cartoons/art/low/customs.jpg http://www.wisegeek.com/what-is-a-tariff.htm World Cultures: A Global Mosiac, pg. 39