Reported 3 days ago
Governments impose tariffs on imported goods as a means to protect local industries, generate revenue, and influence trade negotiations. These tariffs primarily target agricultural products, manufactured goods, and raw materials. While they can benefit domestic industries by making foreign products more expensive, the consequence for consumers often includes higher prices and reduced purchasing power. Tariffs come in various forms, such as ad valorem and specific tariffs, and can lead to trade disputes if retaliatory measures are taken by other countries. Investors and consumers need to stay informed about tariffs as they can significantly affect market conditions and prices.
Source: YAHOO