In economics, what is a tax on imported goods called?

In economics, a tax on imported goods is called a tariff.

A tariff raises the domestic price of an imported product by adding a charge at the border. The importing government collects the revenue, while consumers typically face higher prices and buy less of the product. Domestic producers competing with imports may gain protection and sell more.

Tariffs can be imposed for revenue, protection of domestic industries, or strategic and political reasons. Their effects depend on the country’s size, market conditions, and the responses of trading partners. A large country may influence the world price, but retaliation can reduce the expected benefit.

A tariff is not the same as a quota. A quota directly limits the quantity imported, while a tariff changes the price through taxation. Tariffs can also create deadweight losses because some mutually beneficial trades no longer occur. The Smoot–Hawley Tariff Act of 1930 is a well-known historical example of a major U.S. tariff law.