Changes

A '''tariff''' is a [[tax]] or custom duty on an imported [[good]].  It essentially is a cover charge or entrance fee 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]].  It essentially is a cover charge or entrance fee 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.

Prior to the [[income tax]], tariffs were the principal way for most of [[American history]] to support the [[federal]] government.

Prior to the [[income tax]], tariffs were the principal way for most of [[American history]] to support the [[federal]] government. In 1896, President [[William McKinley]] campaigned and won by pledging to increase tariffs to revive the [[American]] economy, which he did in 1897.  Prior the [[Civil War]], the North favored tariffs to promote their manufacturing, while [[the South]] opposed tariffs in order to export [[cotton]] without retaliatory tariffs.

In [[telecommunications]], a tariff consists of documents filed by a [[common carrier]] describing its services and the payments to be charged for such services.{{fact}}

In [[telecommunications]], a tariff consists of documents filed by a [[common carrier]] describing its services and the payments to be charged for such services.

Tariffs can lead to a reduction and higher prices on foreign imported goods.<ref>Based upon the [[law of supply and demand]].</ref> Like the [[corporate]] [[income tax]], domestic [[consumer]]s ultimately pay the tax in higher prices.

Tariffs can lead to a reduction and higher prices on foreign imported goods.<ref>Based upon the [[law of supply and demand]].</ref> Like the [[corporate]] [[income tax]], domestic [[consumer]]s ultimately pay the tax in higher prices.