TARIFFS
What is it? a tariff is a tax imposed on imported goods that increases the cost of the goods to importers, and hence increases the price of these goods on the market. Domestic goods, of course, pay no tariffs, and the price is lower than the imports. In this way many countries have protected their own industries from foreign competition. The spread of free trade has removed most tariffs, and removed the protection countries can give to their own industries. The industrial capital of Canada was built over 60 years behind tariff walls, most of which have now been removed by free trade agreements.Added By: Allison
The TARIFFS definition has been viewed 155 Time(s)!
Send To Friends!
If you'd like to send the TARIFFS definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -We hope you now understand the meaning of TARIFFS. If you need any more information on this term, please don't hesitate to contact us.