USA HISTORY

Detailed explanation-1: -tariff, also called customs duty, tax levied upon goods as they cross national boundaries, usually by the government of the importing country. The words tariff, duty, and customs can be used interchangeably.

Detailed explanation-2: -What is a Tariff? A tariff refers to the tax imposed by the government on imported goods from other countries. Tariff is imposed majorly to protect the domestic producers, but the government also imposes tariffs to reduce imports from other countries, thereby promoting the use of domestic products.

Detailed explanation-3: -A tariff is a tax on imported goods. Despite what the President says, it is almost always paid directly by the importer (usually a domestic firm), and never by the exporting country.

Detailed explanation-4: -A tariff is a tax imposed by a government on goods and services imported from other countries that serves to increase the price and make imports less desirable, or at least less competitive, versus domestic goods and services.