Protective Tariff (Noun)
Meaning
A tariff imposed to protect domestic firms from import competition.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The government imposed a protective tariff on imported steel to help the struggling domestic industry.
- The protective tariff on agricultural products has been a contentious issue in international trade negotiations.
- Critics argue that the protective tariff on textiles has led to higher prices for consumers and reduced competition.
- The country's decision to impose a protective tariff on imported electronics has sparked a trade war with its neighbors.
- The protective tariff on automobiles has helped to boost domestic car sales, but has also increased costs for consumers.