# What is a tariff example?

## What is a tariff example?

What is an example of a tariff? An example of a tariff could be a tariff on steel. This means that any steel imported from another country would incur a tarifffor example, 5% of the value of the imported goodspaid by the individual or business importing the goods.

## What is tariff in economy?

A tariff is a form of tax imposed on imported goods or services. It means that the demand for normal goods and services by increasing their prices and (2) the protection of domestic producers.

## What is the effect of a tariff?

Tariffs increase the prices of imported goods. Because of this, domestic producers are not forced to reduce their prices from increased competition, and domestic consumers are left paying higher prices as a result.

## What do tariffs do quizlet?

The tariff raises the domestic price of the imported product, and domestic producers of the product raise their price when the domestic price of imports increases.