Phase IFoundation
Background
Overview
Tariffs are fundamental to international trade policy, impact India's export/import competitiveness, and are often discussed in the context of trade wars and protectionism. India's own tariff policies and their global implications are relevant for UPSC.
Tariffs are taxes imposed on imported goods and services, serving as a common trade barrier. They are typically levied by the importing country's government to raise revenue, protect domestic industries from foreign competition, or as a tool of foreign policy and economic coercion.