USA HISTORY

Detailed explanation-1: -Protective tariffs have historically been employed to stimulate industries in countries beset by recession or depression. Protectionism may be helpful to emergent industries in developing nations. It can also serve as a means of fostering self-sufficiency in defense industries.

Detailed explanation-2: -Protective tariffs are designed to shield domestic production from foreign competition by raising the price of the imported commodity. Revenue tariffs are designed to obtain revenue rather than to restrict imports. The two sets of objectives are, of course, not mutually exclusive.

Detailed explanation-3: -Tariffs are taxes placed on goods imported from foreign countries. Tariffs serve two main purposes. First, these taxes allow a nation to raise money. Second, tariffs protect a nation’s goods from cheaper priced foreign items.

Detailed explanation-4: -What is a protective tariff? The purpose of a protective tariff is to protect a country’s industries from foreign competition. A tariff is a tax. The U.S. put this on other country’s products to make them more expensive.

Detailed explanation-5: -The main purpose of a tariff is to increase the price of imported goods in order to protect domestic industries from foreign competition and to raise revenue for the government.