Understanding Tariffs and Their Impact on Markets

Tariffs are taxes imposed on imported goods to regulate trade, protect domestic industries, and generate revenue for governments. While they can help level the playing field for local businesses, tariffs often lead to higher consumer prices and can trigger retaliatory measures from trade partners, potentially igniting trade wars. The balance between protecting local jobs and ensuring market efficiency is critical in today's global economy.

Check points---
>>Higher consumer prices
>>Protection of domestic industries
>>Impact on employment rates
>>Effects on international trade relationships
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