…yes, that is the purpose of tariffs. Raising prices on imported goods until they become so expensive that local goods are competitive. This automatically increases consumer prices. It causes a huge shock upon introduction and over time it (in theory anyway) should promote domestic production by undercutting foreign competition.
…yes, that is the purpose of tariffs. Raising prices on imported goods until they become so expensive that local goods are competitive. This automatically increases consumer prices. It causes a huge shock upon introduction and over time it (in theory anyway) should promote domestic production by undercutting foreign competition.