#TarrifsPause

A tariff is a tax imposed by a government on imported or exported goods. Its primary purpose is to protect domestic industries from foreign competition by making imported goods more expensive. Tariffs can also generate revenue for the government and are often used as a tool in trade negotiations. However, while tariffs can benefit local producers in the short term, they often lead to higher prices for consumers and can trigger trade wars between countries. Over time, widespread tariffs may reduce economic efficiency and limit market choices. In today’s interconnected global economy, tariffs are a critical and often controversial tool, influencing international relations, supply chains, and market dynamics. Understanding their impact is essential for policymakers and businesses alike.