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Tariffs are a custom tax for imported and exported goods which assigned by the government. The tax is allotted based on the total cost of the goods. The tax is included for insurance and freight. It is mostly used in the United States. The tax is set according to the economic policy of the government. Image courtesy: https://marketbusinessnews.com/financial-glossary/tariffs-definition-meaning/ The tariff is a tax for importing products from other countries. It will be placed on exports and imp...