Economics · Public Finance and Taxation
On what regulatory basis is a 'protective tariff' primarily levied in international trade?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Based on preferential trading arrangements with select allies
- 2Based purely on retaliatory vengeance against foreign trade bans
- 3Based strictly on country-wise geopolitical differentiation
- 4Based on the specific purpose of safeguarding domestic industries✓
Correct answer
Based on the specific purpose of safeguarding domestic industries
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