Definition ∞ Trade tariffs are taxes or duties imposed by a government on imported or exported goods and services. These economic barriers are often used to protect domestic industries, generate revenue, or exert political pressure. Tariffs can increase the cost of foreign goods, making them less competitive. They frequently lead to higher prices for consumers and can provoke retaliatory measures from other countries.
Context ∞ The state of trade tariffs is a constant subject of international economic policy and news, with nations frequently adjusting these measures based on geopolitical and economic objectives. Key discussions often revolve around their impact on global supply chains, consumer prices, and the competitiveness of domestic industries. A critical future development involves how these policies might indirectly influence digital asset markets, particularly as investors seek hedges against traditional economic instability.
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