If you have a financial interest in or signature authority over a foreign financial account, including a bank account, brokerage account, mutual fund, trust, or other type of foreign financial account whose aggregate value exceeded $10,000 at any time during 2015, you meet the FBAR filing requirements.
Definition: Tariff War Tariff War usually refers to the war in trade tariffs that countries levy upon each other so as to discourage exports from one another and create trade benefits for self. Tariff Wars are also referred to as âcustoms warâ.
A: The Tariff of Abominations was a protective tariff passed in 1828 designed to protect northern manufactured products from foreign competition. The tariff caused a constitutional crisis when South Carolina threatened to nullify the power of the federal government by refusing to collect the tariff.