A(n)________ tariff is levied as a percentage of the value of an imported product.

Question

Quizplus · Accepted Answer

Ad valorem tariffs are levied as a percentage of the value of the imported product. Specific tariffs, on the other hand, are levied as a fixed amount per unit of the imported product, while compound tariffs are a combination of both ad valorem and specific tariffs. Transit tariffs are charged on goods that pass through a country and are not intended for consumption within that country.

A(n)________ Tariff Is Levied as a Percentage of the Value