Tariff Acts

Tariff Acts are laws enacted by governments to regulate taxes on imported and sometimes exported goods. They are used to protect domestic industries by making foreign products more expensive, encouraging consumers to buy locally-produced items. Tariffs can also generate government revenue and influence trade relationships. These laws specify the rates and types of tariffs applied to various goods, affecting prices, trade balance, and economic policy. Overall, Tariff Acts help governments manage economic interests by controlling the flow of goods across borders.