Friday, February 27, 2015

Why are Many people critical about the use of tariffs?

Why are Many people critical about the use of tariffs?
Many people believe that tariffs on imported goods will in the long run prove to be a problem to a nations economy. A tariff on imported goods makes the price of that product higher and thus buyers consider the tariff a burden on their finances. Also, some believe that tariffs product domestic industries too much and promote inefficiencies.
Another problem critics of tariffs point out is that other nations whose products are on tariff lists will institute tariffs of their own & thus produce a trade war which benefits no one.

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