Recently, the Japanese government, under pressure from its domestic farm lobby, slapped government taxes on mushrooms, leeks, and the reeds used in tatami mats that were being imported from China. These taxes Japan levied are referred to as

Question

Blaze Lloyd

Business

14 September, 10:50

Recently, the Japanese government, under pressure from its domestic farm lobby, slapped government taxes on mushrooms, leeks, and the reeds used in tatami mats that were being imported from China. These taxes Japan levied are referred to as

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Answers (1)

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Terrell Bradley · Answer 1

These taxes Japan levied are referred to as tariffs.

Explanation:

Tariff is an amount charged for the import or export activity between two states or country. In simple words, tariff is the tax collected for the import/export activity.

The importer of the product passes the tariff charges to their customers by highly charging the price of the product. Tariff is usually charged in terms of percentage of the cost of the product that a buyer purchases from a foreign seller. Tariff may sometimes increase the revenue of the government.