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A '''tariff''' is a [[tax]] or custom duty on an imported [[good]] ultimately paid by the end [[consumer]]. It essentially is a cover charge or entrance fee on foreign goods for access to a domestic market. 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]] ultimately paid by the end [[consumer]]. 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.
The tariff is paid ultimately by the end consumer, and not the country of origin. A foreign country suffers in lower volume of [[export]]s, as they pay no money to the importing country. The tariff is paid to the Treasury by the importers, who pass the cost on to wholesalers and retailers.
The tariff is paid ultimately by the end consumer, and not the country of origin. A foreign country suffers in lower volume of [[export]]s, as they pay no money to the importing country. The tariff is paid to the Treasury by the importers, who pass the cost on to wholesalers and retailers.