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How might a country react to another country's protective tariff?
Wiki User
∙ 13y ago
Sometimes a country suffering from a protective tariff will enact a tariff of its own on a product.
Wiki User
∙ 13y ago
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What is a tax placed on goods from another country to protect the home industry?
protective tariff
What are types of tariff with an example of its use?
Revenue tariff: A 5% tariff on sugar to generate public revenue; Protective tariff: A 50% tariff on sugar to keep domestic sugar producers in business; Retaliatory tariff: A 500% tariff on sugar to reply to a high tariff imposed by another country. or sales tax- 8% charged on purchases of luxury goods excise tax- 20% tax charged on each pack of cigarettes capital gains- 15% charged on profits from selling commodities or revenue tariff- a 6% tariff on oranges to provide money for the government protective tariff- a 50% tariff on oranges to shield domestic orange growers from international competition retaliatory tariff- a 200% tariff on oranges to reply to a high tariff imposed by another country
What is the difference between a tariff and protective tariff?
A tariff is a tax on imports A protective Tariff is a tax on imports to protect an industry in your country by making the imported goods more expensive and less attractive to the consumer. A successful use of this can be seen in the history of Harley Davidson Motorcycles.
What was the high tariff to limit foreign competition?
A high tariff to limit foreign competition is called a protective tariff.
What is the purpose of protective tariff?
The purpose of a protective tariff. First of all, what is a protective tariff? It is a tax on imported goods (or goods that come into the country).So, a protective tariff would be one that protects the country from foreign competition. For example, the tariff of 1828. Northern prices were getting too high for the South to be able to pay, so instead the South bought its goods from other countries(England mainly). The Northern ecconomy was hurt because of this so Northern senators chose to place a tariff on all imported goods from foreign countries, thus protecting their industries.
What is a tariff a tax on?
A tariff is a tax placed on imported goods. Each country has separate tariff regulations. The five main types of tariffs include revenue, ad valorem, specific, prohibitive and protective.
What was the nickname that southerns gave to a protective tariff they opposed?
Tariff of abominations
What is the term for a tax that makes goods imported by a country more costly than similar goods produced within that country?
A protective tariff.
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
