#TariffsPause

Tariffs are taxes imposed by a government on imported goods and services. They are typically used to protect domestic industries by making foreign products more expensive, encouraging consumers to buy local. While tariffs can boost a country's economy in the short term by supporting local businesses, they can also lead to higher prices for consumers and potential trade wars. In some cases, countries use tariffs as a tool in international negotiations to achieve specific political or economic goals. The impact of tariffs often depends on their structure, the goods affected, and how trading partners respond.