What Is the Name of the Tax on Imported Goods?


Quick Answer

A "tariff" is the general term for the tax that a government levies on products imported from other countries. Sometimes the words "duty," "customers," "customs duty" and "imported duties" are also used to convey the same meaning.

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Full Answer

In international trade, governments make this tax obligatory for different reasons, one of which is to raise revenue. However, not every item is taxed. Most countries maintain a "free list" of goods that are not subject to a tariff.

Other taxes may be applied to imported goods, depending on the country and the commodity. For example, the U.S. charges a federal excise tax on imported alcoholic beverages and tobacco products.

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