Can you Give examples of products with tariffs?
When the government hands down a tariff that means they are imposing a tax, or duty, that needs to be paid upon bringing in imports, as well as sending out exports. We impose tariffs because of many reasons. First and foremost because issuing a tariff would possibly discourage foreign countries from selling us stuff we could easily make domestically, making it so foreign competition isn't so tough. Another reason could just be because the government wants another form of revenue, and taxing foreign imports is a way to do that. Examples of products with tariffs would be gasoline, tea, sneakers, cell phones, tobacco products, and pretty much any other product you can think of that comes from overseas. If it comes by boat or by air, chances are they will be tariffs placed on the materials coming in and going out.