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Tariff Meaning in English – A Financial Analyst’s Perspective
In English, a tariff refers to a government-imposed tax or duty on imported or exported goods. From a financial and economic standpoint, tariffs serve multiple purposes: they protect domestic industries from foreign competition by making imported goods more expensive; they generate revenue for the government; and they can be used as strategic tools in trade negotiations.
However, while tariffs may shield local producers in the short term, they can also lead to higher prices for consumers and potential retaliation from trade partners. This creates economic inefficiencies and can escalate into trade wars, impacting global supply chains.
In essence, tariffs are a double-edged sword — they offer protection and revenue but can disrupt trade and inflate costs. Their role in global trade continues to be a key lever in shaping economic policy and international relations.
- Author:NEWSWIRE INDIA
- URL:https://www.newswireindiaonline.com//article/1d5a4a5b-472c-8150-814f-d571847a7111
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