Question

the benefits of protective tariffs are multiple choice they decrease the retail price of imported products. they decrease the cost of the product to the consumer (end user). they protect domestic jobs by encouraging cost-sensitive consumers to purchase domestic products. they help develop friendlier trade relations with loyal trading partners. both parties are protected.

Answer 1

Protective tariffs are used to keep foreign competition out of domestic markets and local industry. As a result, they encourage domestic industrialization within a nation. A nation's currency is also protected by protective tariffs in addition to domestic industrialization. Protective tariffs prevent a nation's currency from leaving the country and going to foreign companies, strengthening the currency domestically.

Tariffs imposed by an importing nation to defend its native sector are known as protective tariffs. Imported goods are subject to protective tariffs to keep them expensive when compared to domestically produced items. Protective tariffs are essential for the growth and development of regionally emerging sectors in developing nations. Protective tariffs contribute to independence and self-sufficiency by promoting domestic manufacturing, particularly in the defense sector.

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