Tariffs
Tariffs are taxes or duties applied to goods when they are imported into a country.
They are usually calculated as a percentage of the value of the goods (ad valorem) or as a fixed amount per unit (e.g. per kilogram or litre).
Governments use tariffs to generate revenue, protect domestic industries, and regulate international trade. The tariff rate applied depends on factors such as the commodity code, country of origin, and any applicable trade agreements.
In some cases, tariffs can be reduced or eliminated if the goods qualify for preferential treatment under a free trade agreement and meet the relevant rules of origin.