ECONOMIC IMPLICATIONS OF TARIFFS AND TRADE BARRIERS

Аннотация:

This research explores the economic implications of tariffs and trade barriers, examining their impact on domestic industries, consumer prices, global supply chains, and overall economic growth. Utilizing contemporary and historical data, the study highlights the complex interplay between protectionist policies and market efficiency. Key examples include the U.S. – China trade war, which significantly disrupted global trade, and the European Union’s non-tariff barriers, which impose substantial costs on businesses. The analysis reveals that while tariffs and trade barriers can protect domestic jobs and generate government revenue, they often lead to higher consumer prices, reduced economic efficiency, and strained international relations. This research underscores the need for a balanced approach to trade policy that considers both the benefits and drawbacks of protectionist measures.