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[[File:Donald Trump official presidential photo.jpg|thumb|250px|center|"Tariff is the most beautiful word in the dictionary."<ref>[https://www.theguardian.com/news/audio/2024/dec/16/the-most-beautiful-word-in-the-dictionary-donald-trumps-tariff-plan-podcast ‘The most beautiful word in the dictionary’: Donald Trump’s tariff plan – podcast]</ref>]]
[[File:Donald Trump official presidential photo.jpg|thumb|250px|right|"Tariff is the most beautiful word in the dictionary."<ref>[https://www.theguardian.com/news/audio/2024/dec/16/the-most-beautiful-word-in-the-dictionary-donald-trumps-tariff-plan-podcast ‘The most beautiful word in the dictionary’: Donald Trump’s tariff plan – podcast]</ref>]]
A '''tariff''' is a [[tax]] or custom duty on an imported [[good]]. It can take one of two forms: (1) a tax per unit, known as a specific tariff, or (2) a tax based on the value of the good, known as an ''[[Ad valorem tax|ad valorem]]'' tariff.
A '''tariff''' is a [[tax]] or custom duty on an imported [[good]]. It can take one of two forms: (1) a tax per unit, known as a specific tariff, or (2) a tax based on the value of the good, known as an ''[[Ad valorem tax|ad valorem]]'' tariff.