What is a tariff?

A tariff is a tax or duty imposed on goods that are imported or exported between countries. Tariffs are often used as a way to protect domestic industries by making imported goods more expensive and less competitive in the domestic market. Tariffs can also be used as a source of revenue for the government.

A tariff is a tax imposed on imports or exports. Tariffs can be used to protect domestic industries from foreign competition, or to raise revenue for the government. Tariffs are typically levied on a percentage of the value of the goods being imported or exported.

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