Imposing tariffs on foreign imports has helped developing countries to grow as this protects local jobs.

Question

Quizplus · Accepted Answer

While tariffs can protect local industries from foreign competition and potentially save jobs in the short term, they can also lead to higher prices for consumers and retaliatory measures from other countries. In the long run, this can harm the overall economy of developing countries by reducing the competitiveness of local industries and limiting access to foreign markets.

Imposing Tariffs on Foreign Imports Has Helped Developing Countries to Grow