One way in which an embargo differs so much from a tariff is that an embargo is a complete prohibition or restriction on trade or economic activity with a particular country, whereas a tariff is a tax or duty imposed on imported goods or services.
In an embargo, there is a complete ban on trade with the target country, including both imports and exports. This means that no goods or services are allowed to be exchanged between the embargoing country and the targeted country.
On the other hand, a tariff is a tax imposed on specific goods or services that are imported into a country. It is designed to make imported goods more expensive and less competitive compared to domestic goods. Tariffs can be applied to specific products, industries, or countries, depending on the government's trade policy.
Overall, the main difference between an embargo and a tariff is that an embargo is a complete ban on trade and economic activity with a specific country, while a tariff is a tax imposed on specific imported goods or services.
Which of the following is one way in which an embargo differ so much tariff
1 answer
1 answer