A tariff is a tax imposed by a government on the import of goods or services from another country. Learn about the different types of tariffs, their effects on trade and economy, and some real-world examples. What is a Tariff? A tariff is a government-imposed tax on imported or exported goods , raising their cost to protect local industries or generate revenue. Tariffs play a crucial role in shaping global trade and economic policies. In this article we will discuss about the meaning and types of tariffs imposed on imports and exports. Meaning of Tariffs : A tariff is a duty or tax imposed by the government of a country upon the traded commodity as it crosses the national boundaries. Tariff can be levied both upon exports and imports. The tariff or duties imposed upon the goods originating in the home country and scheduled for abroad are called as the export duties. Countries, interested in maximising their exports ... A tariff is a tax or duty imposed by a government on imported goods or services. Learn about the history of tariffs, the various types of tariffs (including examples), and the pros and cons of tariffs.
