Business

How duties work. We explain on examples


Customs are taxes that can affect the prices of goods. From the point of view of the countries, they can give additional budget revenues and protect domestic producers from the influx of goods from abroad. They can also freeze trade with a country, the best example of which is the current situation on the US -China line. We translate it below on the example. Basically, too high duties cause consumers to choose cheaper domestic products, not more expensive abroad (covered by the high customs).

Ashley Davis

I’m Ashley Davis as an editor, I’m committed to upholding the highest standards of integrity and accuracy in every piece we publish. My work is driven by curiosity, a passion for truth, and a belief that journalism plays a crucial role in shaping public discourse. I strive to tell stories that not only inform but also inspire action and conversation.

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