Tariff reforms

Tariff reforms involve adjusting the taxes imposed on imported and exported goods to promote economic growth, improve trade balance, or enhance domestic industries. These changes can include lowering tariffs to encourage global trade and consumer choice, or increasing them to protect local businesses from foreign competition. Reforms aim to create a more efficient trading system, reduce unnecessary barriers, and support sustainable development. They are typically part of broader economic policy changes aimed at making trade fairer, more competitive, and aligned with a country’s economic goals.