From Ubiquiti website
This VLAN ID tag may be added or removed by a host, a router, or a switch. Within the network, physical ports are configured as untagged or tagged for a specific VLAN—determining whether to accept and forward traffic belonging to each VLAN ID. Let’s take a closer look at each one.
Untagged: a VLAN that is untagged is also sometimes referred to as the “Native VLAN”. Any traffic that is sent from a host to a switch port that doesn’t have a VLAN ID specified, will be assigned to the untagged VLAN.
This option is typically used when connecting hosts such as workstations or devices like IP cameras that don’t tag their own traffic, and only need to communicate on one specific VLAN. A port can only have one Untagged VLAN configured at a time.
Tagged: Assigning a tagged VLAN to a port adds that port to the VLAN, but all ingress and egress traffic must be tagged with the VLAN ID in order to be forwarded. The host connected to the switch port must be capable of tagging its own traffic, and be configured to do so with the same VLAN ID.
Tagged VLANs (as opposed to Untagged) on a port are typically used when connecting to a host that needs access to several networks at once using the same interface, such as a server providing services to more than one department in an office. It can also be used when connecting two switches, in order to restrict access to a VLAN to hosts connected to a downlink switch for security purposes.
Trunk: A trunk port is typically considered a member of all VLANs—it will accept and forward traffic on any VLAN ID and is typically configured for the uplink and downlink ports between switches and routers.
All well and good, but say you wanted to use tagging for privatizing certain traffic, what is the difference between that and using the include and exclude CLI functions? Say I had an AP connected to a switchport and only wanted it to allow traffic from VLAN192. What is different than tagging that port with 192, vs excluding participation in other VLANs? Seems to me like it does basically the same job.