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Sagot :
Tariffs increase the price received by domestic producers and increase the price paid by domestic consumers.
A tariff is a tax imposed by governments on goods and services imported from other countries for the purpose of raising prices and making domestic goods and services less attractive, or less attractive. especially less competitive for domestic goods and services.
The main conclusion is that import taxes reduce the consumer surplus in the import market and increase the surplus in the exporting country. Import duties increase the producer surplus in the import market and decrease the surplus in the exporting country.
Tariffs are intended to protect domestic industries by raising the prices of competitors' products. However, tariffs could also hurt domestic businesses in related industries and raise prices for consumers. Tariffs can also erode the competitiveness of protected industries.
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