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  • 07-12-2022
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What is the purpose of tariff?

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Kayleanaconner
Kayleanaconner Kayleanaconner
  • 07-12-2022

Answer:

A tariff is a tax on imports, often known as a duty or a trade barrier. The purpose of a tariff is generally to protect domestic production and jobs, though economists say other domestic sectors and customers ultimately pay for tariffs. The U.S. has applied tariffs on imports for centuries, but until Trump launched his China tariffs in 2018, the global trend had been toward lower tariff rates,

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