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Tariffs are taxes charged on goods bought from other countries.

Typically, they are a percentage of a product's value. For example, a 25% tariff on a $10 (£7.59) product would mean an additional $2.50 (£1.90) charge.

Companies that bring the foreign goods into the country have to pay the tax to the government.

Firms can choose to pass on some or all of the cost to customers.