In this video, we investigate tariffs. Tariffs are taxes or duties imposed by a government on imported or exported goods. They are designed to regulate international trade by increasing the cost of foreign products entering a country's market, making domestic products relatively more attractive to consumers. Tariffs can serve various purposes, such as protecting domestic industries from foreign competition, generating government revenue or addressing trade imbalances. ►Become a FREE SUBSCRIBER to TWO TEACHERS now: https://www.youtube.com/c/TwoTeachers?sub_confirmation=1 ►Check out our website for lots of educational business resources https://www.twoteachers.co.uk Remember to hit subscribe & turn notifications on (bell icon) so you never miss a video! #tariffs #internationalbusiness #businesseducation