Protectionist Tariffs

While Economists generally agree that free trade creates more winners than loser, policymakers don't always agree, and turn to protectionism to shelter domestic producers from foreign competition.
A tariff is one form of protectionism employed around the world by governments to shelter domestic firms from cheap imports. This lesson examines the impact tariffs have on the market for an imported good and evaluates their effect on different stakeholders, including consumers, producer and the government.
Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! econclassroom.c...

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The world tried protectionist trade policies once before during the Great Depression, and it failed miserably. In the end, it ends up hurting the consumers. However, countries do have some form of protectionism, from time to time, especially to protect 'Infant Industries' and guard against 'Dumping'. But most of these policies should be time bound, otherwise it ends up hurting the very people whose interests you are trying to protect.

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comparative advantage and international competitiveness, other nations can produce apples more efficiently, thus can charge lower prices

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