Import tariffs are imposed on goods entering a country in order to

Import tariffs are imposed on goods entering a country in order to

Answer Details

Import tariffs are imposed on goods entering a country in order to protect the growth of local industries. When a country imposes a tariff on an imported good, it increases the price of that good, making it more expensive than the locally produced alternative. This makes it more attractive for consumers to buy the locally produced product, thereby promoting the growth of local industries. Additionally, the revenue generated from tariffs can be used to subsidize local industries, making them more competitive in the global market. Therefore, import tariffs serve as a protectionist measure for local industries against foreign competition.