word
Tariff Escalation
TAIR-if es-kah-LAY-shun
/ˈtær.ɪf ˌɛs.kəˈleɪ.ʃən/Listen
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Syllable breakdown
Tariffescalation
Dictionary meaning
A trade policy practice where tariff rates increase as a product moves through successive stages of processing — raw materials face low tariffs while finished goods face high tariffs, discouraging industrialization in developing countries.
Examples
- Tariff escalation keeps cocoa-growing nations from developing domestic chocolate industries.
- The WTO negotiations seek to reduce tariff escalation that harms developing economies.
Synonyms: progressive tariff structure, cascading tariffs
Pronunciation tips
Think of it as a 'staircase of taxes' — each step of processing adds a higher tariff, making it harder for developing nations to move up the value chain.
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