Duties and Tariffs
/ˈduːtiz ænd ˈtærɪfs/
Definitions
- (n.) Mandatory payments imposed by a government on imported or exported goods, serving revenue and regulatory functions.
The company had to pay increased duties and tariffs on imported steel.
- (n.) Legal obligations or responsibilities owed by one party to another, particularly under contracts or statutes.
The contract enumerates the duties and tariffs the seller must observe regarding product quality.
Forms
- duties and tariffs
Related terms
See also
Commentary
The term combines fiscal levies on trade goods with broader legal obligations; context determines which sense applies.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.