Hey there, curious minds! 🧐
Have you ever wondered how countries buy and sell things from each other? It’s called trade! 🌍 But sometimes, countries put extra taxes on goods that come from other places. These taxes are called tariffs.
So, what exactly are tariffs?
Tariffs are like fees that governments charge on products coming into their country. Imagine if your friend wants to bring candy from another country to share with you, but they have to pay a fee at the border. That fee makes the candy more expensive.
Why do countries use tariffs?
There are a few reasons:
- Protecting local businesses: By making imported goods more expensive, people might choose to buy products made in their own country instead.
- Raising money: Governments can earn extra money from the fees to spend on things like schools, parks, and roads.
- Negotiation: Sometimes, countries use tariffs to encourage other countries to change their trade policies.
How do tariffs affect us?
Tariffs can make imported items like toys, clothes, or foods more expensive. That means you might have to pay more for that cool gadget from another country. 😕
Talking about trade
Trade and tariffs are important topics that affect everyone. Understanding them helps us learn more about how the world works and how countries work together. Why not chat with your friends and family about it? You might discover something new! 💡
Reference(s):
cgtn.com
