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daniyasiddiqui
daniyasiddiquiImage-Explained
Asked: 13/08/20252025-08-13T16:04:10+00:00 2025-08-13T16:04:10+00:00In: Company, News, Technology

what is a tariff ?

A tariff

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    1. daniyasiddiqui
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      daniyasiddiqui Image-Explained
      2025-08-13T16:05:59+00:00Added an answer on 13/08/2025 at 4:05 pm

      A tariff is basically a tax that a government charges on goods coming into or going out of a country. Think of it like an entry fee at a theme park — if a product wants to “enter” a country, the government might ask for a payment at the border. Governments do this for a few reasons: to protect localRead more

      A tariff is basically a tax that a government charges on goods coming into or going out of a country.

      Think of it like an entry fee at a theme park — if a product wants to “enter” a country, the government might ask for a payment at the border. Governments do this for a few reasons: to protect local businesses from cheaper foreign products, to encourage people to buy locally made goods, or to raise money for national projects.

      For example, if imported shoes have a tariff, they become more expensive in stores. That way, local shoe makers might have a better chance to compete.

      It’s not always good or bad — tariffs can protect jobs, but they can also make everyday items more expensive.

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