321. What are Tariffs? (English Vocabulary Lesson)
1Description
What are tariffs?
Donald Trump has been talking about introducing and increasing tariffs on goods and products imported into the USA.
Today, let’s take a deeper look at tariffs. We’ll talk about the definition of tariffs, real world examples, and the pros and cons of the US introducing tariffs!
Transcript - https://thinkinginenglish.blog/2024/12/02/321-what-are-tariffs-english-vocabulary-lesson/
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Vocabulary
Tariff (Noun): A tax or duty placed on a specific class of imports or exports.
Tax (Noun): A compulsory financial charge or levy imposed by a government on individuals or businesses.
Import (Noun/Verb): Bringing goods or services into a country from abroad for sale or use.
Export (Noun/Verb): Sending goods or services produced in one country to another country for sale.
Good (Noun): A physical item that can be bought or sold; merchandise or products.
Domestic (Adjective): Relating to one's own country; not foreign or international.
To impose (Verb): To establish or apply a rule, tax, or penalty in a forceful way.
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