Tariffs are taxes imposed by governments on imported goods and services, significantly shaping international trade and domestic economies. They aim to protect...
Tariffs are government-imposed taxes or duties levied on imported goods or services, effectively increasing their cost for domestic consumers and businesses.
Governments impose tariffs to protect domestic industries from foreign competition, generate revenue, or as leverage in trade negotiations to influence other countries' economic policies.
Tariffs can lead to higher prices for imported goods, reduce consumer choice, and potentially increase prices for domestically produced items if competition decreases.
A 'trade war' occurs when multiple countries impose or threaten to impose tariffs and other trade barriers on each other in retaliation, escalating economic disputes and disrupting global commerce.