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what's the tariff?
A tariff is a tax on goods and services imported from a country into a country. It is typically used to increase the price of imported goods, making them more expensive than domestic goods and services, thus protecting domestic industries. Most of the time a tariff is an ad valorem tariff (percentage of value) or a specific tariff (e.g. $100 per ton). Less often, it can be a compound tariff made up of both of these elements applies. they can make domestic industries less efficient and innovative by reducing competition. They can hurt domestic consumers since a lack of competition tends to push up prices. They can generate tensions by favoring specific industries or geographic regions over others.
This is an example to check the goods imported from China to US:
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2024-10-23
