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Sagot :
A tariff is a tax that a government imposes on goods and services that are imported from other nations in order to raise prices and reduce the appeal of imports or at the very least their competitiveness, compared to domestic products and services.
By imposing a levy on imported products that are paid by the domestic importer, tariffs raise the cost of goods and services in domestic markets. The domestic importer then raises the pricing for the products and services to meet the additional expenses.
Producing cash, protecting domestic industries, and balancing trade are the three major goals of tariffs. The fact that tariff money is used by governments as a source of finance leads to the creation of the revenue function.
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