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Tariffs cause the price of imported goods to be higher. They are sometimes referred to as protective tariffs because they protect home industries from lower priced imported protects. Generally speaking, most economists do not favor them.
Wiki User
∙ 8y ago
Wiki User
∙ 8y agoGenerally speaking tariffs are designed to raise the price of imported products and provide a source of income to the Federal government. They are often referred to as "protective" in that they protect homeland industries from imported competition. They can allow for homeland companies to compete against foreign ones and the hope is that by new technology they can more efficiently produce products that are "better" then imported ones. Most economists believe that tariffs do not truly help international trade or in the long run benefit the homeland companies.
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∙ 11y agosignificance of tarriffs?
Wiki User
∙ 13y agosket
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What is a tax use to regulate trade called?
a tariff
What was The South Carolina Exposition?
The South Carolina Exposition was a protest by the state of South Carolina against the Tariff of 1828. The document stated that without repealing the tariff South Carolina would secede.
When would the government most likely charge you a tariff?
When you import electronics
What is the legal significance of client questioning and of recording the client responses?
whta is the legal significance of clients questioning and the recording of clients responses?
Can child protective services step in on minor emancipation?
Yes.
What is a tax placed on goods from another country to protect the home industry?
protective tariff
What was the high tariff to limit foreign competition?
A high tariff to limit foreign competition is called a protective tariff.
How might a country react to another country's protective tariff?
Sometimes a country suffering from a protective tariff will enact a tariff of its own on a product.
What was the nickname that southerns gave to a protective tariff they opposed?
Tariff of abominations
What is specialization restricted by in the global economy?
Protective tariffs
First protective tariff?
1816
The purpose of a protective tariff?
tax
Was Thomas Jefferson for the protective tariff?
No
Was Hamilton for protective tariff?
yes he was
What was High tariff to limit foreign competition?
A high tariff that limits foreign competition is a protective tariff.
What is the protective tariff of 1816?
The protective Tariff of 1816 is also known as the Dallas Tariff. It is noteworthy because it marks the first time that congress passed a tariff to protect American manufacturers instead of just to raise money.
High tariff to limit foreign competition?
A high protective tariff can limit foreign competition.
