Tariff regulations are rules set by governments to control the taxes imposed on imported and exported goods. These regulations aim to protect local industries, generate revenue, and influence trade balances. By adjusting tariffs, governments can encourage or discourage the importation of certain products, impacting prices and availability in the market. In international trade, World Trade Organization (WTO) agreements often guide tariff regulations to ensure fair competition among countries. Countries may negotiate tariff rates during trade agreements, which can lead to lower costs for consumers and businesses. Understanding these regulations is essential for companies engaged in global trade.