What is tariff?

[amara]

Can someone explain what a tariff is and how it affects international trade?

 

[danisjohn]

A tariff is a duty levied by a government on exported or imported commodities. Its purpose is to shield the local industries against international competition, generate revenue, or manipulate the trade policies. Tariffs have the ability to raise the prices of goods imported and hence they are not competitive compared to goods produced locally in the market.

 

[Gsusangrey]

A tariff is tax levied on imports by one country on other goods. It is to increase revenue and safeguard domestic industries by increasing the prices of foreign goods.

 

[brook]

A tariff is a fee that a government imposes on exports or imported products. It is aimed at protecting the local industries and industries against international competition, creating revenue, or influencing the trade policies. Tariffs can increase the costs of imported goods and thus they are not competent with the locally produced goods in the market.

 

[Shane Warne]

A tariff is tax or duty levied by a government on goods imported or exported. It increases the cost of imported goods to safeguard the local industries, earn revenues or control the trade policies among nations.

 

[Jarwish]

A tariff is a tax imposed by a government on imported or exported goods. It is used to regulate trade, protect domestic industries, generate revenue, and sometimes influence international economic relations. Tariffs often affect product prices, making imports more expensive compared to locally produced goods.