What are taxes imposed by the government on imported merchandise known as?

The correct answer is tariff. A tariff is a specific type of tax levied by a government on goods and services that are imported into a country. It serves several purposes, including generating revenue for the government and protecting domestic industries by making imported goods more expensive compared to locally produced items. Tariffs can influence trade policies and are often used in conjunction with other trade restrictions.

In the context of international trade, tariffs are a crucial tool for governments to control the flow of goods and maintain economic stability. They can vary in rate based on the type of merchandise, origin of the shipment, and existing trade agreements.

While import duties may seem similar and are indeed a type of tariff, they are considered a broader category. Customs fees, on the other hand, usually refer to charges incurred during the process of clearing goods through customs but do not specifically denote the tax itself. Quotas refer to limits on the quantity of a particular item that can be imported, which is distinct from the concept of a tariff. Therefore, tariff is the most accurate term to describe taxes imposed specifically on imported merchandise.