Tariffs are customs duties imposed on merchandise imports by governments. A country or a trade block imposes a tariff either to a country or to a specific product. For the latter, it’s important to know the correct product code as the customs duties are applied according to HS Code.
It’s crucial for exporters to know about tariffs and non-tariff barriers before deciding to enter a certain country. They are also an important criteria when doing target market research as they directly affect the buying behaviors of importers.
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