Baghdad The political and economic expert, Jalil Al-Lami, affirmed that imposing customs tariffs is a shield that protects emerging industries from foreign competition.
He told the National Iraqi News Agency (NINA) that customs duties or customs tariff are taxes imposed on goods imported by the state from other countries. The customs tariff is used to protect local industries from foreign competition, to increase government revenues, and to provide protection by raising the prices of imported goods.
Al-Lami added: Industrial establishments, commercial markets, and workers in those establishments face difficulty in facing foreign competition in some cases. This is when foreign facilities and workers are more efficient than local production. The groups affected by the dumping of goods try to strengthen or raise the customs tariff to increase corporate profits or to maintain them and high wages for workers.
He explained: The protective customs tariff can be a shield that protects these emerging industries from foreign competition so that establishments and their workers become more productive.
Al-Lami continued: If the state, within its commercial relations, resorts to setting commercial and import policies in which it completes the needs, especially of goods, materials, equipment, and means needed by development and the movement of production in a way that protects local production and achieves economic goals in line with the protection of local facilities and markets.
Source: National Iraqi News Agency