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What is a Tariff System?

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What is a Tariff System?

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A tariff system is a system by which goods are taxed coming into, or leaving, a country for the purposes of resale. The concept, generally, has both proponents and opponents. Protectionists support the use of tariffs as a way to protect a country’s economic system, while free trade advocates see tariffs as needless government interference in the marketplace.

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