#TariffPause

Tariffs are taxes on imported goods and services. Governments impose tariffs to protect domestic industries, raise revenue, and regulate trade. Tariffs can be ad valorem (based on value) or specific (fixed amount per unit). They can impact trade balances, economic growth, and consumer prices. Countries often negotiate tariffs through trade agreements. Tariffs can also be used as a policy tool to address trade imbalances or unfair trade practices. Understanding tariffs is crucial for businesses, policymakers, and consumers navigating global trade.