Question

Beginning in 2018, The U.S. imposed high tariffs on goods imported from several countries. Answer this questions about the tariffs:

What are the stated purposes of the tariffs?

Answer 1

• Tariff is nothing but a tax imposing either for exports or imports between states.
• It is a regulation of foreign trade by imposing tariff on foreign goods and safeguarding country's industry.
• Beginning in 2018, Trump government in USA imposed tariffs on many country goods.
• A series of tariffs imposed under the background of America's First Economic policy of Trump.
• America's first economic policy aims for the shifting in Americas multilateral trade agreements to Bilateral trade agreements as a whole.
• So America started imposing tariff on many countries goods like the goods coming from different countries like European Union,Canada,Mexico,China and then it turned to be a TRADE WAR.
• Government of different countries impose tariffs on certain specific industies which are essentially under the influence of political power.
• The purpose of imposing tariff to increase the cost of a particular good or imports particularly to limit or increase the imports quantity in the country.
• The intention behind this tariff purpose is that by making the imports costly the domestic industries can produce more and creates wealth in the country.
• Money collected under tariff is a customs duty and is used to generate revenue inside thr country.