The most common tariff used today is the ________ tariff.

Question

Quizplus · Accepted Answer

The most commonly used tariff today is the import tariff, which is a tax levied on imported goods. This is because many countries use import tariffs as a tool to protect their domestic industries from foreign competition and to generate revenue for the government. Transit tariffs are imposed on goods passing through a country, while government tariffs are used to regulate trade for national security or public health reasons. Export tariffs are levied on goods leaving a country and are used to discourage exports and keep domestic prices low.

The Most Common Tariff Used Today Is the ________ Tariff