Compound tariff
Compound tariff: a rate of duty on a product which consists of two components. The first is an ad valorem rate, expressed as a percentage of the value of the product. The second component is a specific rate, expressed as a monetary value per article regardless of the value of the product. A hypothetical example would be one where each compact disc incurs a specific tariff of one dollar plus an ad valorem tariff set at 10%.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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