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nydimaria [60]
3 years ago
6

How do tariffs restrict trade and protect domestic industries?

Social Studies
2 answers:
Schach [20]3 years ago
4 0
Tariffs are<span> essentially taxes or duties placed on an imported good or service by a</span>domestic<span> government, making </span>domestic<span> goods cheaper for </span>domestic<span> consumers and imported goods more expensive for companies exporting goods from their</span>industry<span> into the </span>domestic industry<span>.</span>
lisov135 [29]3 years ago
3 0
The cost of tariffs to the economy is not trivial. the World Bank estimates that if all barriers to trade such as tariffs were eliminated, the global economy would expand by 830 billion dollars by 2015.
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