The federal government imposes tariffs, as it intends to protect domestic goods.
Further Explanations:
A Federal government is the most effective authority in a nation over the states. Law endorsed by the Federal government is abided by all the respective states without any obligation. Among the authorities exercised one of them is the imposition of tariffs on foreign goods. This tax normalizes the foreign trade and encourages dependence on domestic yields. They are also the source of funds for the central administration. The need for tariff imposition can be described as follow:
i. To restrict foreign sway in a sector:increases in import effect the domestic trade and ruins the economy of the nation.
ii. To restrict importation on foreign goods: restrictions on the foreign goods protect the domestic businesses of the realms. It also protectsworkforces from being idle.
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Answer Details
Grade: High school
Subject: US History
Chapter: Tariffs
Keywords: foreign trade, protectionism, import goods, import quotas, administrative rules, local trade, domestic industries,tariffs ,foreign goods,domestic yields,Federal government,
