USA HISTORY

Detailed explanation-1: -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-2: -A tariff or duty (the words are used interchangeably) is a tax levied by governments on the value including freight and insurance of imported products.

Detailed explanation-3: -Jefferson wanted lower tariffs helping farmers keep the price of imported goods low. Jefferson believed that agriculture/farming would be the best economic engine for America. He distrusted business and manufacturing as being dependent on too many items.

Detailed explanation-4: -Customs duties on merchandise imports are called tariffs. Tariffs give a price advantage to locally-produced goods over similar goods which are imported, and they raise revenues for governments.