International Tariff Policies

International tariff policies refer to the regulations that countries implement to control the import and export of goods across their borders. These tariffs are taxes on imported products, making them more expensive and protecting domestic industries by encouraging consumers to buy local goods. Countries use tariffs to generate revenue and influence trade relationships. They can affect prices, availability of products, and the overall economy. Policymakers aim to balance the benefits of protecting local businesses with the need for free trade and cooperation in the global market, often negotiating tariff rates through international agreements.