Tariffs
By: Courtney, Yoseline, Jordan
Examples
Has Tariffs: non-specific dairy porducts= 20%
tariff on most imported auto parts=25%
Non-Tariffs: imported licenses, product classification
Purpose
- Used to restrict trade- increase price on imported goods
- To protect domestic jobs, infant industries, and consumers
Ex: consumers buying less expensive foreign goods which may result in workers losing jobs
What's the money used for?
The money for a tariff goes to the government and whatever specific good or service industry that is being used or bought.
Ex: There is a 5% tariff on an imported car into Australia so the money goes to the government in general or to the automotive industry.