What Do You Mean By Tariff?
Answer:
Tariff is basically a kind of tax. This duty is imposed on different commodities when they are transported for selling purpose across another country. A Tariff is laid by a country in order to protect the domestic industry of that country.
It is a restrictive measure for regulating trade between different countries. There are several different types of Tariffs such as:
- Protective Tariff
- Prohibitive Tariff
- Revenue Tariff
- Specific Tariff
- Ad Valorem Tariff
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