All Subjects
Light
A tariff is a tax imposed on imported goods and services. It is used to protect domestic industries from foreign competition by making imported goods more expensive.
congrats on reading the definition of Tariff. now let's actually learn it.
Protectionism: An economic policy that restricts imports in order to protect domestic industries.
Revenue Tariff: A tariff implemented primarily to generate revenue for the government rather than to protect domestic industries.
Import Quota: A limit on the quantity of certain categories of goods that can be imported.