#TariffsPause Tariffs are taxes imposed by a government on imported goods and services. They are used to protect domestic industries from foreign competition, raise government revenue, or retaliate against unfair trade practices. By making imported goods more expensive, tariffs can encourage consumers to buy locally produced products. However, they can also lead to higher prices for consumers and strained international trade relations. In some cases, countries may pause or reduce tariffs to ease inflation, foster diplomatic relations, or stimulate economic growth. A pause in tariffs can benefit global trade, but it may also challenge domestic industries facing international competition.