Revenue Tariff (Noun)
Meaning
A tariff imposed to raise revenue.
Classification
Nouns denoting possession and transfer of possession.
Examples
- A revenue tariff of 10% was imposed on imported goods to increase government revenue.
- The country's trade policy has historically focused on using revenue tariffs to boost public finances.
- In addition to raising revenue, the new tariff law also protected domestic industries from foreign competition.
- The revenue tariff on sugar imports was adjusted downwards to reflect changes in global market prices.
- Under the new trade agreement, both countries agreed to reduce their revenue tariffs on bilateral trade to 5%.