A tariff was used under the Articles of Confederation in an unsuccessful attempt to increase revenue and exert pressure on the British.
The natural resources and capacity of the majority of nations to generate specific goods and services are their main constraints. To meet the wants and expectations of their populace, they engage in commerce with other nations. However, trading partners don't always conduct business in a cordial way.
Trading partners may become dissatisfied due to policies, geopolitics, competitiveness, and many other issues. Tariffs are one tool used by governments to interact with trading partners with whom they do not agree. A tariff is a charge that one government imposes on the imports of products and services from another country in an effort to sway it, generate income, or safeguard competitive advantages.
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