Tariff - Definition, Different Forms, and How It Works
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Tariffs usually take one of two forms: specific or ad valorem. A specific tariff is one imposed on one unit of a good (e.g., $1,000 tariff on each imported car). An ad valoremAd Valorem TaxThe term “ad valorem” is Latin for “according to value,” which means that it is flexible and depends on the assessed value of an asset, product or service.tariff... Published: May 27, 2020
Tariffs usually take one of two forms: specific or ad valorem. A specific tariff is one imposed on one unit of a good (e.g., $1,000 tariff on each imported car). An ad valoremAd Valorem TaxThe term “ad valorem” is Latin for “according to value,” which means that it is flexible and depends on the assessed value of an asset, product or service.tariff...
Published: May 27, 2020
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