This is a tax imposed on imported goods, making them more expensive than locally produced goods, which effectively protects domestic industries from foreign competition. Tariffs can be fixed or ad-valorem (a percentage of the value of the goods).
This is a tax imposed on imported goods, making them more expensive than locally produced goods, which effectively protects domestic industries from foreign competition. Tariffs can be fixed or ad-valorem (a percentage of the value of the goods).