Tariffs, explained: How they work and why they matter
Tariffs have been a robust tool in the hands of governments to shield domestic manufacturers and penalize unfair trade practices outside borders.
Tariffs are taxes placed on imported goods by a government or a supranational union. Occasionally, tariffs can be applied to exports as well. They generate government revenue and serve as a trade regulation tool, often to shield domestic industries.
Four main categories of tariffs are:
Read more
