Review:
Tariffs
overall review score: 2.5
⭐⭐⭐
score is between 0 and 5
Tariffs are taxes or duties imposed on imported goods by a country's government. They are used to restrict trade, protect domestic industries, generate revenue, and support national security interests.
Key Features
- Imposed by government
- Applied to imported goods
- Can vary by product or country of origin
- Impact international trade
Pros
- Protect domestic industries
- Generate revenue for the government
Cons
- Can lead to higher prices for consumers
- May trigger trade wars with other countries
- Could harm diplomatic relations