specific tariffs are levied as a fixed charge for each unit of goods imported (for example, $1 per barrel )
ad valorem tariffs are taxes that are levied as a fraction of the value of the imported good (for example ,25 percent value of the imported goods)
specific tariffs are levied as a fixed charge for each unit of goods imported (for example, $1 per barrel )
ad valorem tariffs are taxes that are levied as a fraction of the value of the imported good (for example ,25 percent value of the imported goods)