The phrase "tariff reductions" refers to the act of decreasing or reducing the fees or taxes imposed on importing or exporting goods between countries. Full definition
I am hopeful that these changes will lead to future tariff reductions on items such as athletic apparel and running shoes. (canadianbusiness.com)
Understanding rules of origin can help your business take full advantage of tariff reductions within those free trade agreements to boost profits and grow your business internationally. (edc.trade)
Thus, the benefits for individual provinces depend heavily on whether products of interest to a particular province face above - average or below - average tariff reductions. (asiapacific.ca)