What is the difference between import and export duties?

Import and export duties are taxes levied on goods that are imported and exported to and from a specific area. In Utah, these duties are governed by the U.S. Customs and Border Protection and the International Trade Law. The primary purpose of import duties is to protect domestic industries from foreign competition. Import duties are taxes imposed on foreign goods that enter the country. This is done to make foreign imports more expensive, giving domestic businesses a competitive edge. In some cases, import duties may also be imposed to raise revenue for the state or federal government. Export duties are the opposite of import duties. They are taxes imposed on domestic goods that are going to be exported. This is done to protect domestic producers from international competition and to create new revenue for the state or federal government. The purpose of export duties is to make domestic exports more expensive, giving foreign businesses a competitive edge. In conclusion, the difference between import and export duties is that import duties are taxes imposed on foreign goods entering the country, while export duties are taxes imposed on domestic goods leaving the country. Both of these are governed by the International Trade Law in Utah.

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What is the difference between import and export duties?

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