In most cases, countries use tariffs to reduce foreign competition, but tariffs are also used

Name: In most cases, countries use tariffs to reduce foreign competition, but tariffs are also used
Brand: Quizplus
Rating: 4.9 (48 reviews)

Question

Quizplus · Accepted Answer

Tariffs are often used as a response to perceived unfair trade practices, such as dumping or subsidies by foreign competitors. By imposing a tariff, a country can raise the cost of imported goods, making them less competitive against domestic products. This can help protect domestic industries and jobs.

In Most Cases, Countries Use Tariffs to Reduce Foreign Competition