tariff reform
Tariff reform refers to changes in the taxes or duties imposed on imported goods. These changes can involve reducing, eliminating, or restructuring tariffs to encourage trade and improve economic efficiency. By adjusting tariffs, governments aim to make domestic products more competitive and promote consumer access to a wider range of goods.
Reforming tariffs can also impact international relations, as countries negotiate trade agreements to lower barriers. This can lead to increased trade flows, economic growth, and potential job creation in certain sectors. However, it may also pose challenges for local industries that compete with cheaper imports.