What is the primary purpose of tariffs?

The primary purpose of tariffs is to generate revenue for governments and protect domestic industries. Tariffs are taxes imposed on imported goods, which can raise the cost of these goods in the domestic market. By making imported products more expensive, tariffs help domestic producers compete more effectively with foreign suppliers. This protection can support local jobs and industries by encouraging consumers to buy domestic products rather than imports. Additionally, tariffs can serve as a source of revenue for governments, as they collect the fees from these taxes when imports are brought into the country.

While there are other potential effects of tariffs, such as influencing competition or pricing in the market, their main objectives are rooted in revenue generation and protecting local economies.