Reported 2 days ago
Duties and tariffs are important fees related to international trade that differ in their definitions and applications. Duties are specific taxes on imported goods, set to protect domestic industries and generate government revenue, while tariffs encompass broader taxes and restrictions on imports and exports, often used as tools in trade negotiations. Both can significantly impact market dynamics, consumer prices, and investment opportunities, making it essential for businesses and investors to understand their effects on the economy.
Source: YAHOO