Derived from the Latin term meaning “according to value,” an ad valorem tariff is a tax imposed on goods based on their value rather than their quantity or weight. This type of tariff is commonly used ...

Agricultural products: Many countries impose ad valorem tariffs on imported agricultural goods, such as fruits, vegetables, and dairy products. For example, a 15% tariff on imported cheese valued ...

Trump discussed the tariffs in a series of posts on his social media platform, Truth Social. One update announced the official orders of the tariffs, stating that the decision was made to “protect” ...