Question

To try to escape economic woes, Great Britain raised tariffs. Why was this an unwise thing to do? Higher tariffs created too much of a surplus. It caused runaway inflation to strike the nation. Higher tariffs discouraged foreign trade. It made other nations too rich.

Answer 1

When Great Britain raised tariffs, this was unwise because "Higher tariffs discouraged foreign trade" since all imported goods faced a tax before they could go to market.

Answer 2

I believe the answer is: Higher tariffs discouraged foreign trade.

Higher tariffs basically forced the producer to increase the price of their product as it enter the Great Britain Market. When this happen, many investors would see Britain's market as unfavourable and might decided to open their businesses on other countries.