What are tariff trade agreements?

Tariff trade agreements are contracts between nations that regulate import and export duties on goods.

How do tariffs impact global trade?

Tariffs affect global trade by influencing pricing, competitiveness, and market accessibility.

Can tariffs benefit domestic industries?

Yes, tariffs can protect local industries by making imported goods less competitive.

Are there drawbacks to imposing tariffs?

Tariffs may lead to trade disputes, higher consumer prices, and strained international relations.