Basics8 min read
Understanding U.S. Tariffs: A Beginner's Guide
Learn the fundamentals of how U.S. tariffs work, including the different types of duties and how they're calculated.
What Are Tariffs?
Tariffs are taxes imposed on imported goods. They serve multiple purposes: generating revenue, protecting domestic industries, and serving as leverage in trade negotiations.
Types of Tariffs
- Ad Valorem: A percentage of the product's value
- Specific: A fixed amount per unit
- Compound: A combination of both
How Tariffs Are Applied
When goods enter the U.S., Customs and Border Protection (CBP) assesses duties based on the product's classification, country of origin, and declared value.
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