Create a response to this discussion post.

Tariffs are a good policy in some cases but, it depends. For example, a country like the United States may increase tariffs on foreign imports, in pursuit of encouraging domestic jobs and manufacturing. Doing so aims to discourage outsourcing by making it more expensive for companies to buy products elsewhere. According to the article on enforcing a global minimum tax rate on companies, President Biden is planning on increasing the tax rate on American firm's overseas profits to 21%, which was previously 10.5%. This may be a good way to hold large corporations accountable to pay more in taxes or hopefully, incentivize them to move their operations back to the U.S. Imposing tariffs is also a tactic used to apply pressure to push policies on other countries when necessary. An example of this is Biden's proposal to impose a 25% tariff on certain goods from 6 countries with DSTs, which is likely a tactic to encourage these countries to come to an agreement on a global minimum tax on corporations. The case against tariffs is that they can lead to trade wars, as we saw with President Trump raising Chinese export tariffs to 25% in 2018, which can ultimately negatively affect trade with that country. If a country heavily depends on trade with another, imposing a higher tariff rate can risk that trade relationship and accessibility to that good. In addition, tariffs discourage competition when imposed on imports, leading to higher prices as a result. This is a downside for the competing companies but works to benefit domestic industries. Tariffs are beneficial in protecting domestic manufacturing and jobs, but can have a downside when too high, leading to trade wars and worsened trade relationships and ultimately discourage competition. Tariffs are a good policy in some cases but, it depends. For example, a country like the United States may increase tariffs on foreign imports, in pursuit of encouraging domestic jobs and manufacturing. Doing so aims to discourage outsourcing by making it more expensive for companies to buy products elsewhere. According to the article on enforcing a global minimum tax rate on companies, President Biden is planning on increasing the tax rate on American firm's overseas profits to 21%, which was previously 10.5%. This may be a good way to hold large corporations accountable to pay more in taxes or hopefully, incentivize them to move their operations back to the U.S. Imposing tariffs is also a tactic used to apply pressure to push policies on other countries when necessary. An example of this is Biden's proposal to impose a 25% tariff on certain goods from 6 countries with DSTs, which is likely a tactic to encourage these countries to come to an agreement on a global minimum tax on corporations. The case against tariffs is that they can lead to trade wars, as we saw with President Trump raising Chinese export tariffs to 25% in 2018, which can ultimately negatively affect trade with that country. If a country heavily depends on trade with another, imposing a higher tariff rate can risk that trade relationship and accessibility to that good. In addition, tariffs discourage competition when imposed on imports, leading to higher prices as a result. This is a downside for the competing companies but works to benefit domestic industries. Tariffs are beneficial in protecting domestic manufacturing and jobs, but can have a downside when too high, leading to trade wars and worsened trade relationships and ultimately discourage competition