substantial tariffs

Language: en

📖 Definitions

  1. Import duties or taxes levied on goods that are significant in amount, rate, or impact, often used as a tool of trade policy or economic pressure.; A large increase in the percentage or fixed value of taxes applied to imported products, typically intended to restrict trade volume or generate revenue.

💬 Examples

  1. The government announced substantial tariffs on steel imports to protect domestic industries from foreign competition.

  2. Analysts predict that the implementation of substantial tariffs will lead to higher consumer prices for electronics and clothing.