China tariffs: what are they and how are they used?

//China tariffs: what are they and how are they used?

China tariffs: what are they and how are they used?

What are tariffs?Tariffs are extra customs duties imposed on imported goods, usually paid by importers. Tariffs are generally designed to make imported goods more expensive than similar products produced domestically. And because they are designed to protect the domestic industry, they are often described as “protectionist”.Import tariffs are viewed as a form of taxation, the revenues of which go to the government. Most independent trading nations or territories have tariff regimes, charging a…

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By | 2020-12-10T10:30:11+00:00 December 10th, 2020|Headlines|Comments Off on China tariffs: what are they and how are they used?