Stephen Hawking: 'There is no heaven; it's a fairy story'. 1  In an exclusive interview with the Guardian, the cosmologist shares his thoughts on death, M-theory, human purpose and our chance existence. 2  In an exclusive interview with the Guardian, the cosmologist shares his thoughts on death, M-theory, human purpose and our chance existence.
Tariff of Abominations. The Tariff of Abominations was a protective tariff passed by the Congress of the United States on May 19, 1828, designed to protect industry in the northern United States.
In my article The Softwood Lumber Dispute we saw an example of a tariff placed on a foreign good. A tariff is simply a tax or duty placed on an imported good by a domestic government. Tariffs are usually levied as a percentage of the declared value of the good, similar to a sales tax. Unlike a sales tax, tariff rates are often different for every good and tariffs do not apply to domestically produced goods. The upcoming book Advanced International Trade: Theory and Evidence by Robert Feenstra gives three situations in which governments often impose tariffs: