What is a tariff?

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Multiple Choice

What is a tariff?

Explanation:
A tariff is a tax on imported goods. It’s charged when products cross a country’s border and collected at the point of import. Tariffs serve to raise revenue and, often, to protect domestic industries by making foreign-made goods more expensive. They are not taxes on income or property, and they are not taxes on exports. By raising the price of imports, tariffs can influence consumer choices and the competitiveness of domestic producers.

A tariff is a tax on imported goods. It’s charged when products cross a country’s border and collected at the point of import. Tariffs serve to raise revenue and, often, to protect domestic industries by making foreign-made goods more expensive. They are not taxes on income or property, and they are not taxes on exports. By raising the price of imports, tariffs can influence consumer choices and the competitiveness of domestic producers.

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