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Definition. Import quota that allows a limited quantity of specified merchandise into a country (or withdrawal of already imported merchandise from a bonded warehouse) for consumption at a reduced duty rate during a specified period. Also called tariff quota.
For other uses, see Tariff (disambiguation). A tariff is a tax on imports or exports (an international trade tariff). In other languages and very occasionally in English, tariff or its equivalent may also be used to describe any list of prices (e.g., electrical tariff). Tariff Rates in Japan (1870-1960)