(University of the Western Cape, 2017) Asiimwe, Esther Mucwa; Lenaghan, P.
A tariff on imports (or customs duty) is a government imposed financial charge or tax
on imported goods. It can be levied as a percentage of the import's value or as a
specified tax per unit cost. Countries have debated the issue of tariffs in international
trade for a long time. On one hand, tariffs are considered to be barriers to trade as they
restrict market access, whereas there is also argument that they are necessary to protect
or promote domestic industries against foreign competition.