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Tariff is a tax on imports and exports on a business. Theoretically when tariff rates are lowered businesses will strive to import and export more. But there are also other factors that may affect the confidence of a company to import or export for example the situation the country may be in e.g. war, nuclear crisis and more importantly exchange rates of a country from a country.

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βˆ™ 12y ago
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βˆ™ 9y ago
  • Because it is cheaper, and trade increases.
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Q: How does lowering tariffs affect trade with India?
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