People aren’t taught what tariffs are actually for anymore. They’re meant to protect local industry by artificially increasing foreign goods; not to decrease prices. Unfortunately, it’s not going to do us much good since the damage to our local industry has already been done.
People aren’t taught what tariffs are actually for anymore. They’re meant to protect local industry by artificially increasing foreign goods; not to decrease prices. Unfortunately, it’s not going to do us much good since the damage to our local industry has already been done.
The main thing you hurt when you implement a tariff with no alternative to domestic businesses is those businesses.