Tariff | Wikipedia audio article
Channel: wikipedia tts
Date: 2018-11-28

This is an audio version of the Wikipedia Article:
Tariff

Listening is a more natural way of learning, when compared to reading. Written language only began at around 3200 BC, but spoken language has existed long ago.

Learning by listening is a great way to:
- increases imagination and understanding
- improves your listening skills
- improves your own spoken accent
- learn while on the move
- reduce eye strain

Now learn the vast amount of general knowledge available on Wikipedia through audio (audio article). You could even learn subconsciously by playing the audio while you are sleeping! If you are planning to listen a lot, you could try using a bone conduction headphone, or a standard speaker instead of an earphone.

You can find other Wikipedia audio articles too at:
https://www.youtube.com/channel/UCuKfABj2eGyjH3ntPxp4YeQ

You can upload your own Wikipedia articles through:
https://github.com/nodef/wikipedia-tts



"The only true wisdom is in knowing you know nothing."
- Socrates



SUMMARY
=======
A tariff is a tax on imports or exports between sovereign states. Trade deficits mean that consumers buy too much foreign goods and too few domestic products. According to Keynesian theory,  trade deficits are harmful. Countries that import more than they export weaken their economies. As the trade deficit increases, unemployment or poverty increases and GDP slows down. And surplus countries are getting richer at the expense of deficit countries. Keynes thought that surplus countries should be taxed.The tariff is used to equalize the trade balance in order to protect domestic workers. It is a policy that taxes foreign products and encourages home industry. The objective is for consumers to buy more goods and services produced by domestic workers and domestic manufacturers by making imported products more expensive. It puts the burden of revenue on foreign goods and would secure the national market for the national producer. It would protect workers' standard of living from competition from imported products and uphold the standard of wages for the worker. Free trade would be incompatible with high wages, as the worker would have no chance of resisting competition from low-wage foreign workers and from countries that practice monetary, social, environmental, fiscal dumping policies. Without tariff protection, workers would be reduced to unemployment or would have to accept wage cuts that would impoverish them. Tariff would guarantee the country's industrial and economic independence by allowing it to develop all productive sectors.