5 Reasons Why Countries Impose Tariffs – And How It Impacts YOU
📊 5 Reasons Why Countries Impose Tariffs – And How It Impacts YOU 📊 5 Reasons Why Countries Impose Tariffs – And How It Impacts YOU "Why are imported goods so expensive?" I used to wonder the same thing—until I worked at a trade company. If you're new to global economics, this post is your tariff crash course with real-life insights and helpful charts. 1️⃣ What Is a Tariff? A tariff is a tax imposed on goods imported from another country. It’s also known as an import duty. 2️⃣ Why Do Governments Add Tariffs? – Top 5 Reasons # Purpose Description 1 Protect Domestic Industries Tariffs prevent local businesses from being undercut by cheaper foreign goods. 2 Increase Government Revenue Import taxes help fill government budgets without raising domestic taxes. 3 Balance Trade Deficits Tariffs reduce excessive imports...