It is false that a country that imposes high tariffs encourages foreign-based companies to import goods.
Tariff basically refers to a tax imposed on imports or exports of goods in the country by the Federal government.
- Sometime, the tariffs are imposed to control the rate of importation into the country to prevent dumping.
- However, high tariff will lead to high cost of sales because the seller has to consider tax incurred.
Therefore, it is false that a country that imposes high tariffs encourages foreign-based companies to import goods
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