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.
1 Tariffs-A tax put on imported goods by the government. 2  Sometimes can be put on exported goods too. 3  Also known as custom duty or impost. 4  Treasury-The department of government that has control over the collection, management, and disbursement of the public revenue. This tariff lowered tariffs on a few items, but increased tariffs on most manufactured goods. 2  Tariff of 1890 - Referred to as the Mckinley Tariff, it was the highest protective tariff yet raising the average rate of import duties on foreign goods to 48%.