Trade tariffs are taxes imposed by a government on imported or exported goods. They are used primarily to regulate international trade by increasing the cost of foreign products, thereby making domestic goods more competitive in comparison. Tariffs can serve multiple purposes, including protecting local industries, generating revenue for the government, and responding to unfair trade practices. They can be classified into two main types: specific tariffs, which charge a fixed fee per unit of goods, and ad valorem tariffs, which are based on the value of the goods. Trade tariffs can affect global supply chains, alter market prices, and influence international relations.
The U.S. plans to increase tariffs by April 2, impacting trade dynamics across the Americas. Mexico's Foreign Affairs Secretary, Ebrard, is leading negotiations to protect Mexico's economy from these tariffs.…