Double-page supporter
- Joined
- Dec 20, 2019
- Messages
- 902
Well dang.what could have been written on the letter. Handwriting quality? Emojis? Lewd graphics? Hahahaha
It is a form of regulation of foreign trade and a policy that taxes foreign products to encourage or safeguard domestic industry.
Taxing imports means people are less likely to buy them as they become more expensive. The intention is that they buy local products instead – boosting the country's economy.
There is near unanimous consensus among economists that tariffs have a negative effect on economic growth and economic welfare while free trade and the reduction of trade barriers has a positive effect on economic growth.