What is the primary goal of implementing tariffs?

The primary goal of implementing tariffs is to increase prices of foreign goods and protect domestic industries. Tariffs are taxes imposed on imported goods, which raise their prices in the domestic market. This price increase makes foreign goods less competitive compared to local products, encouraging consumers to buy domestically produced items.

By protecting domestic industries, tariffs aim to support local businesses, jobs, and economic growth. This protectionist measure seeks to strengthen the domestic economy by reducing dependence on foreign goods and allowing local industries to flourish. As domestic producers gain a competitive edge, they are often able to maintain or increase their market share, ultimately contributing to national economic stability.

In contrast, the other options do not align with the intended purpose of tariffs. Eliminating all international trade contradicts the very nature of a global economy that relies on trade for growth and resource allocation. Reducing government revenue is not a goal of tariffs; rather, they can generate substantial revenue for governments through the taxes collected on imported goods. Finally, the idea of ensuring all goods are sold at equal prices undermines the concept of market competition and the economic principles of supply and demand, which allow for price variations based on numerous factors.