Question

Which of these is an example of a tariff? Amazon charges $5 for same day delivery McDonalds adds $ .50 to the price of a cheeseburger Racine County Government raises sales tax by 1% The United States government adds a 50% tax to imported steel from China

Answer 1

The United States government adds a 50% tax to imported steel from China

Step-by-step explanation:

Tariff are tax imposed on goods imported or exported (usually imported) from other countries. This is done so as to reduce the the amount of imports and foreign products thereby promoting or encouraging local products. Since the price of the imported goods are increased, this means that people might not buy them thereby protecting local industries and businesses.

Also, tariffs can serve as extra income to the government. Tariffs can either be fixed or variable.