$BTC

$BTC Tariffs are taxes imposed by a government on imported goods. They are typically used to protect domestic industries from foreign competition by making imported products more expensive. When tariffs are modified—either increased or reduced—it can significantly impact trade dynamics. An increase in tariffs may help local businesses by reducing competition, but it can also lead to higher prices for consumers and potential retaliation from trade partners. On the other hand, reducing tariffs encourages international trade and can lower costs for consumers, but it may challenge domestic producers who struggle to compete with cheaper imports. Modifying tariffs is a strategic economic tool that governments use to balance domestic economic goals with international trade relations