Question

From time to time, various groups clamor for import restrictions or tariffs on foreign-produced goods, particularly automobiles. how might these be helpful? harmful?

Answer 1

Tariffs can be helpful if the imports are unfairly cheaper than the domestic counterparts. This would level the playing field and help the domestic companies compete more effectively.

Tariffs can be harmful for consumers because there is strong possibility that the increased costs will raise consumer prices.