A Tariff is a tax or duty imposed by a government on imported (and sometimes exported) goods.
Tariffs are used by governments to regulate international trade, protect domestic industries, and generate revenue. When tariffs are applied, imported goods become more expensive, encouraging consumers to buy local products.
In India, tariffs are implemented by the government through customs authorities under policies influenced by the Ministry of Finance.
"If a 10% tariff is applied on imported cars, their prices increase compared to locally manufactured cars."