What are duties?

Duties are taxes imposed on the importation of goods into a country. They are paid by the importer or the person who is bringing the goods into the country. Duties are typically based on the value of the goods, but they can also be based on weight or volume.

The purpose of duties is to generate revenue for the government and to protect domestic industries from foreign competition. Tariffs can make imported goods more expensive than domestically produced goods, and this can encourage consumers to buy locally-made products.

There are different types of duties that can be imposed on goods, including:

* Ad valorem duties: These duties are based on the value of the goods.

* Specific duties: These duties are based on the weight or volume of the goods.

* Compound duties: These duties are a combination of ad valorem and specific duties.

The type of duty that is imposed on a particular good depends on the country's trade policy and the specific product.

Some countries have very high duties on imported goods, while others have very low duties. This can make a big difference in the price of goods that are imported into a country.

Duties are an important part of international trade. They can be used to generate revenue for governments, to protect domestic industries, and to balance trade between countries.