A protective tariff is a financial decision by a government to apply a tax on the importation of foreign goods. This tariff is used to inflate import prices in order to protect the value of domestic merchandise that can…
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Its core principal is to protect the domestic economy rather than to raise revenue.
An example of a protective tariff is seen in the importation of oranges. Orange fruit does not grow everywhere, and South American countries often produce massive quantities for export. If a country can produce oranges but can import them from South America cheaper than growing them domestically, a protective tariff might be applied. This tariff will inflate the price of the imported oranges so that they are equal to or higher than the price of domestic oranges.
Tariffs for many years were primarily used to collect Federal revenue and protect start-up industries. The government largely restricted its activities to maintaining order and protecting property by imposing army, navy and courts tariffs in order to raise enough revenues to finance government programs. This made the government largely self supporting. During wars or in attempt to meet other needs, additional income was secured by raising the tariff and excercise tax rates. Short term and unanticipated capital needs (budget deficits) were usually covered by borrowing.
Those favoring protective tariffs mostly engage in manufacturing sector that would be negatively impacted by foreign competition. Exporting areas that would be severely hurt by retaliatory trade measures imposed by their trading partners. The exporting countries also feel as though protective tariffs deal them a double blow since they export cash crops to trading partners affected by protective tariffs and have to purchase foodstuffs and manufactured goods that might be more costly due to the imposition of protective tariffs.
On the opposite end of the spectrum are two arguments in favor of protective tariffs. One is that it keeps money earned locally within the domestic economy. The idea being that if a man earns a paycheck from a local business, he should feed that money back into other local
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The inter-linkage between customer relationship management and the protective security officer is undeniable and in a private security company it is necessary to maintain team posturing in all leadership function to ensure staff and subordinate cooperation toward meeting the long-term strategic goals of satisfying and retaining clients.
It also renowned for the character value it increases to any building with brick color, texture and strength. The use of clay brick has long standing history that dates back as far as the Egyptian age and continues to connect most people with the history of their ancestors.
Andrew Jackson and Henry Clay were both well-known politicians in the course of United States history, often because of their differing views on politics and policy. Both had strong wills and even stronger ideas about the way that the country should be run, advocating different paths for the growth and development of the country.
It is engrossed in the federal government system, which partly funds its activities (Mallon 473). In fact, the police assist in verification and investigation of reports while other agencies help in child treatment and family support.
merican Industry, he meant that the necessary infrastructures for the growth of the local industries were created and the industry ceased to be controlled by foreign legislation. The love for foreign products was removed from the minds of the people of America. American
d). This reactive property of chemicals is employed in a wide range of industries such as food production, material production, pharmaceutical, and others. Conventionally, many such industries do not always categorize the unique behaviour of
He returned to the mainland and was a business legal advisor in Frankfort, Kentucky and soon left on a vacation for governmental issues.
Clay was chosen as the Kentucky House Representative (1803-1806); served
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