how are subsidies similar to tariffs?\nboth are types of taxes.\nboth aim to lower the price of domestic…

Brief Explanations:

Subsidies are financial aids to domestic producers to make their goods more competitive. Tariffs are taxes on imported goods to make them more expensive relative to domestic goods. Both mechanisms are used to give domestic goods an edge in competing against foreign - made goods.

Answer:

Both allow domestic goods to compete against foreign goods.