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GCSE Business · key term
A tax placed on imported goods.
Used by Edexcel
Specification 2.1.3 · Paper 2
Revise: Globalisation and International TradeA tariff is a tax on imported goods. Governments may use tariffs to protect domestic producers from foreign competition; this is a form of protectionism.
A tariff is paid by the importer to the importing country's government. Its cost may then be passed on to customers through higher prices.
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