What is a tariff?
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1,111,111 TRP = 11,111 USD
1,111,111 TRP = 11,111 USD
1,111,111 TRP = 11,111 USD
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A tariff is a tax imposed by a government on imported or exported goods. It’s used to control trade, protect domestic industries, or generate revenue. For example, Nigeria might levy tariffs on imported rice to support local farmers. Tariffs can affect prices and availability of goods in the market.