NOMINAL RATE OF TARIFF
\nˈɒmɪnə͡l ɹˈe͡ɪt ɒv tˈaɹɪf], \nˈɒmɪnəl ɹˈeɪt ɒv tˈaɹɪf], \n_ˈɒ_m_ɪ_n_əl ɹ_ˈeɪ_t ɒ_v t_ˈa_ɹ_ɪ_f]\
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The duty associated with imported goods that does not take into consideration the effect of inflation or other taxes. As such it is not a true reflection of the price at the time of import. It is also referred to as effective tariff rate.
By Henry Campbell Black
