Tariffs on International Trade
Managing a sustainable balance between national and imported goods & services.
International trade increases the number of goods that domestic consumers can choose from, decreases the cost of those goods through increased competition, and allows domestic industries to ship their products abroad. While all of these effects seem beneficial, it has been argued that free trade isn't beneficial to all parties, in all scenarios.
Tariffs are a type of tax imposed on imports, leveraged by governments around the world in order to protect local industries with a particular interest at stake, or even retaliate in some scenarios.
Although free trade benefits consumers through increased choice and reduced prices, there is a delicate balance to be made between the pursuit of efficiencies and the government's need to ensure low unemployment through these sort of tactics. Where to find that middle point?