Tariff type of tax was implemented by country Q
Explanation:
Tariff is the tax levied by one republic nation on the goods brought in from another country. There are two types of tariffs which are specific and add valorem tariffs. It is best for raising the revenue of the country form imports but it results in high consumer price of the products which are imported.
When a country imports the specific goods, then the internal indigenous industries which produce the similar goods may lose their value by reducing the competition.
In olden days cross border trade was viewed to be the zero game where one can total wealth out of tariffs or other country could face total loss. There are also many instances in past which created rivalry between countries due to increase in tariffs that restricted imports.
Considered one of the wonders of the modern world, the Panama Canal opened for business 100 years ago this Friday, linking the Atlantic and Pacific Oceans and providing a new route for international trade and military transport.
At the time it was built, the canal was an engineering marvel, relying on a series of locks that lift ships – and their thousands of pounds of cargo – above mountains.
But thousands of workers died during its construction, and its history has seen no shortage of controversy, including a contentious transference of authority from the US to Panama in the 1970s.
Work recently began on a substantial expansion effort that will allow the canal to accommodate modern cargo needs. hope that helped
The Siege of Nicaea took place during the First Crusade, May 14 - June 19, 1097. Captured by the Byzantine empire, Nicaea was known as the capitol of the Sultanate of Rum. On June 26, the crusaders left in two contingents expecting to return in five weeks. However, they did not reach Jerusalem for 2 years after having left. This would be the first battle and success of the First Crusade.
