Protectionists argue that putting a tariff on a good protects a domestic industrys output and employment. Others
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Protectionists argue that putting a tariff on a good protects a domestic industry’s output and employment. Others argue that a country hurt by the tariff may retaliate by restricting trade from the country imposing the tariff. The result could be a loss of output and employment in an exporting industry of the country that initiated the tariff action.
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Economics Theory And Practice
ISBN: 9781118949733
11th Edition
Authors: Patrick J. Welch, Gerry F. Welch
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