While it is generally believed that tariffs harm both domestic consumers and foreign suppliers our trading partners), and exception is called the optimal tariff. Using a graph show why the optimal tariff does not harm the consumers in the tariff-imposing nation, harms the nation exporting to that nation, and makes the tariffimposing nation better off. Next: discuss how the exporting nation might respond to the optimal tariff which would most likely make the tariff-imposing nation worse off. Historically in the United States, tariffs were implemented not primarily to reduce imports from foreign nations but for another reason. What was that reason? Arguments have been made that in the late 19th to early 20th centuries nations that had high tariffs also had high rates of growth (in other words, high tariff caused high rates of economic growth). But one of the videos suggests a counter-argument. Elaborate on that counterargument. What is protectionism? What is a tariff