Tariff Policies

Tariff policies refer to the government-imposed taxes on imported goods. These taxes are designed to make foreign products more expensive, encouraging consumers to buy domestic products instead. Tariffs can protect local industries, support job creation, and generate revenue for the government. However, they can also lead to higher prices for consumers and potential trade disputes with other countries. Overall, tariff policies serve as tools for managing trade relations and influencing the economy, balancing the interests of domestic producers and global markets.