Trade Tariffs
Trade tariffs are taxes imposed by a government on imported goods. They are used to increase the cost of foreign products, making them less competitive compared to domestic goods. This can help protect local industries and jobs by encouraging consumers to buy products made within their own country.
Tariffs can also be used as a tool in international trade negotiations. When countries impose tariffs on each other's goods, it can lead to trade disputes. Organizations like the World Trade Organization work to regulate these tariffs and promote fair trade practices among member countries.