Definitions
- Referring to the government agency responsible for regulating the flow of goods and people across international borders. - Talking about the process of inspecting and clearing goods entering or leaving a country. - Describing the duties or taxes imposed on imported or exported goods.
- Referring to the tax imposed on imported or exported goods by a government. - Talking about the system of rates or charges applied to different types of goods. - Describing the policy of protecting domestic industries by imposing tariffs on foreign goods.
List of Similarities
- 1Both customs and tariff are related to international trade.
- 2Both involve the regulation of goods entering or leaving a country.
- 3Both can affect the price and availability of imported or exported goods.
- 4Both are used by governments to control the flow of goods and protect domestic industries.
What is the difference?
- 1Definition: Customs refers to the government agency responsible for regulating the flow of goods and people across international borders, while tariff refers to the tax imposed on imported or exported goods.
- 2Scope: Customs covers a broader range of activities, including inspection, clearance, and collection of duties or taxes, while tariff specifically refers to the tax itself.
- 3Purpose: Customs is primarily concerned with enforcing regulations and collecting revenue, while tariff is used to protect domestic industries and regulate trade.
- 4Application: Customs applies to both imports and exports, while tariff only applies to goods crossing international borders.
- 5Flexibility: Customs can be more flexible in its application, while tariff is often set at fixed rates and may be less adaptable to changing circumstances.
Remember this!
Customs and tariff are both related to international trade and the regulation of goods crossing international borders. However, customs refers to the government agency responsible for regulating the flow of goods and people, while tariff specifically refers to the tax imposed on imported or exported goods. While both are used to control the flow of goods and protect domestic industries, customs is more concerned with enforcing regulations and collecting revenue, while tariff is primarily used to regulate trade and protect domestic industries.
