Tariffs are taxes on imports.

Name: Tariffs are taxes on imports.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Tariffs are taxes that are imposed by the government on imported goods, with the aim of making foreign products more expensive compared to locally produced items. This is done to provide domestic industries with an advantage by making imported goods less competitive, and thereby encouraging consumers to purchase domestic products instead.

Tariffs Are Taxes on Imports