Pronunciation: [tˈaɹɪf] (IPA) 
The word "tariff" has a tricky spelling! It can be pronounced as /ˈtærɪf/ or /ˈterɪf/ depending on the dialect. The first syllable can be spelled as "tar" or "ter" and the second syllable can be spelled with an "if" or an "eef". The meaning of the word remains the same: a tax or duty on imported or exported goods. It's important to pay attention to the spelling of this word as it is commonly used in economics and politics.
A tariff refers to a tax or duty levied by a government on imported or exported goods. It is a form of trade barrier aimed at controlling the flow of goods across international borders and protecting domestic industries from foreign competition. The imposition of tariffs is primarily aimed at regulating trade and can have various objectives such as generating revenue, promoting domestic industries, protecting infant industries, or balancing trade deficits.
Tariffs can be classified into different types based on their purpose and implementation method. Ad valorem tariffs are levied as a percentage of the value of the product being imported or exported. Specific tariffs are imposed based on a fixed amount per unit of the product. Compound tariffs incorporate both a specific and an ad valorem component.
The impact of tariffs is often debated, as they can have both positive and negative consequences. From an economic perspective, tariffs can enhance domestic industries by providing protection from foreign competition, allowing them to grow and thrive. However, tariffs can also lead to higher prices for consumers who may have limited alternatives due to the lack of foreign substitutes. They can also provoke retaliatory measures from other countries, leading to trade wars and disrupting global trade.
Tariffs have been a significant tool in international trade negotiations and have been implemented by many countries over centuries as a means to regulate and manage their economic relationships with other nations.
• A table or book of rates or duties to be paid on goods imported or exported.
• To make a list of duties payable on merchandise.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
The word tariff originated from the Italian word tariffa, which ultimately traces back to Arabic. The term tarif referred to a list or schedule of prices or charges that were levied on goods being imported or exported. This Arabic term likely entered the Italian language during the Middle Ages through trade and cultural interactions. From there, it spread to other European languages, including English, where it evolved into the word tariff.
