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The No-Nonsense Guide to Tariffs: What Are They, Who Pays Them, Who Makes Them

The No-Nonsense Guide to Tariffs: What Are They, Who Pays Them, Who Makes Them

Credit: Duisenberg via Wikimedia Commons A tariff is a tax levied on imported goods and services. Historically, tariffs were a major source of revenue for many countries and were often the primary source of federal revenue through the late-nineteenth century. Today, other taxes account for most government revenue in developed countries. Tariffs are now typically used selectively to protect certain …

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