Tariffs are taxes or duties imposed by a government on imported or exported goods.
They are typically levied to raise revenue for the government, protect domestic industries from foreign competition by making imported goods more expensive, or encourage consumers to buy locally produced goods.
Tariffs can be specific (a fixed amount per unit of the imported or exported good) or ad valorem (a percentage of the value of the goods).
They are a significant tool in international trade policy, often used to achieve economic goals and protect national interests.
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