321. What are Tariffs? (English Vocabulary Lesson)

What are tariffs?

Donald Trump has been talking about introducing and increasing tariffs on goods and products imported into the USA.

Today, let’s take a deeper look at tariffs. We’ll talk about the definition of tariffs, real world examples, and the pros and cons of the US introducing tariffs!

Transcript - https://thinkinginenglish.blog/2024/12/02/321-what-are-tariffs-english-vocabulary-lesson/

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Vocabulary

Tariff (Noun): A tax or duty placed on a specific class of imports or exports.

Tax (Noun): A compulsory financial charge or levy imposed by a government on individuals or businesses.

Import (Noun/Verb): Bringing goods or services into a country from abroad for sale or use.

Export (Noun/Verb): Sending goods or services produced in one country to another country for sale.

Good (Noun): A physical item that can be bought or sold; merchandise or products.

Domestic (Adjective): Relating to one's own country; not foreign or international.

To impose (Verb): To establish or apply a rule, tax, or penalty in a forceful way.

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