Get to know the vital terms of Logistics and Supply Chain Management.
Who charges? Government authorities.
Charged at: Typically applied at the time of import or export.
Tariffs are government-imposed taxes or charges on imported or exported goods. They are usually dependent on the price, amount, weight, or other characteristics of the commodities being traded. Tariffs are used to regulate trade, protect domestic industries, provide income for the government, and correct trade imbalances. They can differ greatly between countries and may be applied to specific products, industries, or trading partners.
Tips: Importers and exporters should be aware of the tariff rates that apply to their goods and incorporate them into their cost calculations. Tariff rates can have an impact on product competitiveness in international markets and should be carefully considered when planning trade.
