A tariff adds value to the Gross Domestic Product on imports.
A PROTECTIVE tariff is intended to artificially inflate prices of imports and protect domestic industries from foreign competition.
PROTECTIVE tariff
protectionism
it manufactured by the high tariff barrios on foreign imports
The tariff raised the average duty on imports to almost fifty percent, an act designed to protect domestic industries from foreign competition. The McKinley Tariff was replaced with the Wilsonâ??Gorman Tariff Act in 1894, which promptly lowered tariff rates.
The Safeguard Measures Act protects domestic producers of goods by allowing the Secretary of the Tariff Commission to increase tariffs on imports. The intent is not to eliminate imports, but to allow domestic producers to remain competitive in the marketplace.
The US government attempted to facilitate the growth of domestic industry by placing high tariff barriers on foreign imports.
An example is a protectionist trade policy would be a tariff on imports, or quotas on the volume of imports.
Tariff
Tariff
A type of tax charged on imports
to increase the prices'