Tariff barriers: tariff is very important instrument of trade protection. Tariff refers to the duties or taxes imposed on internationally traded products when they cross the national borders.
On the basis of origin and destination of the goods crossing the national boundary tariff may be classified into
1. Export duties: an export duty is a tax imposed on a commodity originating from the duty levying country destined for duty leaving country.
2. An import duty is a tax imposed on a commodity originating abroad and destined for duty leaving country. When tariff is imposed on imported goods it is called import duties.
3. Transit tariff; when a product is exported to a country through another country. Then the tariff which is imposed by the middle country is known as transit tariff.
There are also other tariff like- bases of quantification
1. Specific duty: specific amount of money unit wise is imposed as a import duty upon the goods entering importing country. The duty is imposed in the currency of importing country and exporter will have to pay it.
2. Ad-valorem duty: ad-valorem means according to value. The duty is imposed upon imported goods A/c to the value of goods.
3. Anti-dumping duty: To protect dumping the importing country imposes the rate of duty on imported goods which will neglect the effects of dumping price.
4. Preferential tariff
5. Counteracting duty.
6. Mixed duty
7. Seasonal duty
8. Single column duty
