{"id":32401,"date":"2025-04-06T22:12:17","date_gmt":"2025-04-06T16:42:17","guid":{"rendered":"https:\/\/edunovations.com\/currentaffairs\/?p=32401"},"modified":"2025-04-06T22:12:23","modified_gmt":"2025-04-06T16:42:23","slug":"what-are-tariffs","status":"publish","type":"post","link":"https:\/\/edunovations.com\/currentaffairs\/economy_finance\/what-are-tariffs\/","title":{"rendered":"What Are Tariffs: Meaning, Uses, and Impact on Global Trade \u2013 UPSC &amp; Govt Exam Prep"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_83 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/edunovations.com\/currentaffairs\/economy_finance\/what-are-tariffs\/#What_Are_Tariffs\" >What Are Tariffs?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/edunovations.com\/currentaffairs\/economy_finance\/what-are-tariffs\/#%F0%9F%8E%AF_Why_Do_Countries_Use_Tariffs\" >\ud83c\udfaf Why Do Countries Use Tariffs?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/edunovations.com\/currentaffairs\/economy_finance\/what-are-tariffs\/#%F0%9F%92%B8_Who_Pays_the_Tariff\" >\ud83d\udcb8 Who Pays the Tariff?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/edunovations.com\/currentaffairs\/economy_finance\/what-are-tariffs\/#%F0%9F%8C%8D_Impact_of_Tariffs_on_Global_Trade\" >\ud83c\udf0d Impact of Tariffs on Global Trade<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/edunovations.com\/currentaffairs\/economy_finance\/what-are-tariffs\/#%F0%9F%93%89_Tariffs_in_the_Indian_Context\" >\ud83d\udcc9 Tariffs in the Indian Context<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/edunovations.com\/currentaffairs\/economy_finance\/what-are-tariffs\/#%F0%9F%94%8D_Why_This_News_Is_Important\" >\ud83d\udd0d Why This News Is Important<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/edunovations.com\/currentaffairs\/economy_finance\/what-are-tariffs\/#%F0%9F%8C%90_Understanding_Economic_Tools\" >\ud83c\udf10 Understanding Economic Tools<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/edunovations.com\/currentaffairs\/economy_finance\/what-are-tariffs\/#%F0%9F%A7%A0_Relevance_in_Current_Affairs\" >\ud83e\udde0 Relevance in Current Affairs<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/edunovations.com\/currentaffairs\/economy_finance\/what-are-tariffs\/#%F0%9F%95%B0%EF%B8%8F_Historical_Context_of_Tariffs\" >\ud83d\udd70\ufe0f Historical Context of Tariffs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/edunovations.com\/currentaffairs\/economy_finance\/what-are-tariffs\/#%F0%9F%93%8C_Key_Takeaways_from_%E2%80%9CTariffs_and_Their_Global_Impact%E2%80%9D\" >\ud83d\udccc Key Takeaways from &#8220;Tariffs and Their Global Impact&#8221;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/edunovations.com\/currentaffairs\/economy_finance\/what-are-tariffs\/#FAQs_Frequently_Asked_Questions_on_Tariffs\" >FAQs: Frequently Asked Questions on Tariffs<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/edunovations.com\/currentaffairs\/economy_finance\/what-are-tariffs\/#1_What_is_a_tariff\" >1. What is a tariff?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/edunovations.com\/currentaffairs\/economy_finance\/what-are-tariffs\/#2_Why_do_countries_impose_tariffs\" >2. Why do countries impose tariffs?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/edunovations.com\/currentaffairs\/economy_finance\/what-are-tariffs\/#3_Who_pays_the_tariff%E2%80%94the_exporter_or_the_importer\" >3. Who pays the tariff\u2014the exporter or the importer?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/edunovations.com\/currentaffairs\/economy_finance\/what-are-tariffs\/#4_How_do_tariffs_impact_the_economy\" >4. How do tariffs impact the economy?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/edunovations.com\/currentaffairs\/economy_finance\/what-are-tariffs\/#5_What_is_the_role_of_tariffs_in_Indias_Atmanirbhar_Bharat_mission\" >5. What is the role of tariffs in India\u2019s Atmanirbhar Bharat mission?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/edunovations.com\/currentaffairs\/economy_finance\/what-are-tariffs\/#Some_Important_Current_Affairs_Links\" >Some Important Current Affairs Links<\/a><\/li><\/ul><\/nav><\/div>\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_Are_Tariffs\"><\/span>What Are Tariffs?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Tariffs are taxes or duties imposed by a government on imported goods and services. These are used to control trade between countries, protect domestic industries, and generate revenue for the government. Tariffs are typically calculated as a percentage of the product&#8217;s total cost, including freight and insurance.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%F0%9F%8E%AF_Why_Do_Countries_Use_Tariffs\"><\/span>\ud83c\udfaf Why Do Countries Use Tariffs?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Countries use tariffs for several reasons:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Protecting domestic industries:<\/strong> Tariffs make imported goods more expensive, encouraging consumers to buy locally produced items.<\/li>\n\n\n\n<li><strong>Revenue generation:<\/strong> In many developing nations, tariffs are a major source of income for the government.<\/li>\n\n\n\n<li><strong>Trade negotiations:<\/strong> Tariffs can be used as bargaining tools during international trade deals or to retaliate against unfair practices.<\/li>\n\n\n\n<li><strong>Correcting trade imbalances:<\/strong> Countries may impose tariffs to reduce reliance on imports and improve their trade deficit.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%F0%9F%92%B8_Who_Pays_the_Tariff\"><\/span>\ud83d\udcb8 Who Pays the Tariff?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Although tariffs are levied on importers, the cost is usually passed on to consumers in the form of higher prices. Businesses importing goods either absorb the extra cost or increase product prices, affecting market demand and consumer behavior. Sometimes, the exporting country may lower its prices to remain competitive.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%F0%9F%8C%8D_Impact_of_Tariffs_on_Global_Trade\"><\/span>\ud83c\udf0d Impact of Tariffs on Global Trade<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Tariffs often lead to trade tensions and retaliatory measures, disrupting international economic relations. For example, the U.S.\u2013China trade war significantly impacted global supply chains and market stability. High tariffs can reduce trade volume, hamper economic growth, and discourage foreign investments.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%F0%9F%93%89_Tariffs_in_the_Indian_Context\"><\/span>\ud83d\udcc9 Tariffs in the Indian Context<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>India uses tariffs strategically to promote local industries under the &#8220;Atmanirbhar Bharat&#8221; initiative. By increasing import duties on electronics, furniture, and other goods, the government encourages local manufacturing. However, excessive tariffs can lead to inflationary pressures and reduce consumer choices.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\" id=\"what-are-tariffs-in-trade\"><img decoding=\"async\" width=\"286\" height=\"176\" src=\"https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2025\/04\/download-17.jpeg\" alt=\"what are tariffs in trade\" class=\"wp-image-32402\" style=\"width:576px;height:auto\" title=\"what are tariffs in trade\"\/><figcaption class=\"wp-element-caption\">what are tariffs in trade<\/figcaption><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%F0%9F%94%8D_Why_This_News_Is_Important\"><\/span>\ud83d\udd0d <strong>Why This News Is Important<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%F0%9F%8C%90_Understanding_Economic_Tools\"><\/span>\ud83c\udf10 Understanding Economic Tools<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>For aspirants of competitive exams, understanding tariffs is essential to grasp key concepts of international trade, taxation, and economic policy. Tariffs are frequently asked about in questions related to international relations, economy, and government schemes.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%F0%9F%A7%A0_Relevance_in_Current_Affairs\"><\/span>\ud83e\udde0 Relevance in Current Affairs<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Tariffs have been central to major economic policies worldwide, especially in the context of trade wars and India\u2019s evolving import-export dynamics. As India navigates global supply chains and domestic growth, tariff policy is a crucial element of self-reliance.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%F0%9F%95%B0%EF%B8%8F_Historical_Context_of_Tariffs\"><\/span>\ud83d\udd70\ufe0f <strong>Historical Context of Tariffs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The use of tariffs dates back centuries when governments levied taxes on goods crossing borders to build revenues. In modern history, the <strong>Smoot-Hawley Tariff Act (1930)<\/strong> in the U.S. worsened the Great Depression by triggering a global decline in trade. Over time, global trade institutions like the <strong>World Trade Organization (WTO)<\/strong> have pushed for tariff reduction to boost free trade. However, protectionism has resurged in recent years with countries reevaluating their economic priorities post-COVID and amid geopolitical tensions.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%F0%9F%93%8C_Key_Takeaways_from_%E2%80%9CTariffs_and_Their_Global_Impact%E2%80%9D\"><\/span>\ud83d\udccc <strong>Key Takeaways from &#8220;Tariffs and Their Global Impact&#8221;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th><strong>S.No.<\/strong><\/th><th><strong>Key Takeaway<\/strong><\/th><\/tr><\/thead><tbody><tr><td>1<\/td><td>Tariffs are taxes imposed on imported goods, primarily to protect local industries.<\/td><\/tr><tr><td>2<\/td><td>They are used to generate government revenue, correct trade imbalances, and retaliate.<\/td><\/tr><tr><td>3<\/td><td>Consumers usually bear the brunt of tariffs through increased product prices.<\/td><\/tr><tr><td>4<\/td><td>Excessive tariffs can trigger trade wars and disrupt global supply chains.<\/td><\/tr><tr><td>5<\/td><td>India uses tariffs strategically under Atmanirbhar Bharat to promote domestic production.<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\">what are tariffs in trade<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs_Frequently_Asked_Questions_on_Tariffs\"><\/span><strong>FAQs: Frequently Asked Questions on Tariffs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_What_is_a_tariff\"><\/span>1. <strong>What is a tariff?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A tariff is a tax or duty imposed by a government on goods and services imported from other countries.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_Why_do_countries_impose_tariffs\"><\/span>2. <strong>Why do countries impose tariffs?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Tariffs are imposed to protect domestic industries, generate government revenue, reduce trade imbalances, and for political or strategic reasons during trade negotiations.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_Who_pays_the_tariff%E2%80%94the_exporter_or_the_importer\"><\/span>3. <strong>Who pays the tariff\u2014the exporter or the importer?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Tariffs are paid by importers, but the cost is often passed on to consumers in the form of higher product prices.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_How_do_tariffs_impact_the_economy\"><\/span>4. <strong>How do tariffs impact the economy?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Tariffs can protect local industries and generate revenue but can also lead to inflation, reduced international trade, and trade wars.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_What_is_the_role_of_tariffs_in_Indias_Atmanirbhar_Bharat_mission\"><\/span>5. <strong>What is the role of tariffs in India\u2019s Atmanirbhar Bharat mission?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>India uses tariffs to reduce dependence on imports and encourage local manufacturing, thus boosting economic self-reliance.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Some_Important_Current_Affairs_Links\"><\/span>Some Important Current Affairs Links<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--1\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs\/category\/national\/\" target=\"_blank\" rel=\"noreferrer noopener\">State Current Affairs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--2\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs\/category\/sports\/\" target=\"_blank\" rel=\"noreferrer noopener\">Sports Current Affairs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--3\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs\/category\/international\/\" target=\"_blank\" rel=\"noreferrer noopener\">International Current Affairs<\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs\/category\/banking\/\" target=\"_blank\" rel=\"noreferrer noopener\">Banking Current Affairs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs\/category\/railway\/\" target=\"_blank\" rel=\"noreferrer noopener\">Railways Current Affairs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs\/category\/defence\/\" target=\"_blank\" rel=\"noreferrer noopener\">Defence Current Affairs<\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--4\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs?newsmaticargs=custom&amp;posts=today\" target=\"_blank\" rel=\"noreferrer noopener\">Daily Current Affairs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--5\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairsinhindi\/\" target=\"_blank\" rel=\"noreferrer noopener\">Current Affairs In Hindi<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--6\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/currentaffairs\/category\/news-and-notifications\/\" target=\"_blank\" rel=\"noreferrer noopener\">News and Notifications<\/a><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.edunovations.quiz\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" width=\"900\" height=\"150\" src=\"https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2023\/03\/Banner-current-affairs-2-1.jpg\" alt=\"Download this App for Daily Current Affairs MCQ&#039;s\" class=\"wp-image-247\" title=\"\" srcset=\"https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2023\/03\/Banner-current-affairs-2-1.jpg 900w, https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2023\/03\/Banner-current-affairs-2-1-300x50.jpg 300w, https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2023\/03\/Banner-current-affairs-2-1-768x128.jpg 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><figcaption class=\"wp-element-caption\">Download this App for Daily Current Affairs MCQ&#8217;s<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\" id=\"News-Website-Development-Company\"><a href=\"https:\/\/www.martindiainfotech.com\/\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" width=\"900\" height=\"150\" src=\"https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2023\/04\/News-Website-Development-Company-Banner.png\" alt=\"News Website Development Company\" class=\"wp-image-438\" title=\"News Website Development Company\" srcset=\"https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2023\/04\/News-Website-Development-Company-Banner.png 900w, https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2023\/04\/News-Website-Development-Company-Banner-300x50.png 300w, https:\/\/edunovations.com\/currentaffairs\/wp-content\/uploads\/2023\/04\/News-Website-Development-Company-Banner-768x128.png 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><figcaption class=\"wp-element-caption\">News Website Development Company<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>What Are Tariffs? Tariffs are taxes or duties imposed by a government on imported goods and services. These are used to control trade between countries, protect domestic industries, and generate revenue for the government. Tariffs are typically calculated as a percentage of the product&#8217;s total cost, including freight and insurance. \ud83c\udfaf Why Do Countries Use&#8230;<\/p>\n","protected":false},"author":6,"featured_media":32402,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[144,145],"tags":[616,21947,3995,21948,267,14029,21931],"class_list":["post-32401","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy_finance","category-education","tag-competitive-exams","tag-current-affairs-2025","tag-global-trade","tag-import-export-2","tag-indian-economy","tag-tariffs","tag-upsc-economy"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/posts\/32401","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/comments?post=32401"}],"version-history":[{"count":0,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/posts\/32401\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/media\/32402"}],"wp:attachment":[{"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/media?parent=32401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/categories?post=32401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/edunovations.com\/currentaffairs\/wp-json\/wp\/v2\/tags?post=32401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}