this post was submitted on 18 Oct 2024
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Explain Like I'm Five
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Not at all. It's necessary to protect your own industry.
If Canada didn't impose tariffs on US dairy, Canadian dairy farmers couldn't afford to compete against US subsidized Dairy. And it's quite important for a nation to maintain its own food production.
Subsidies of local produced goods would work just a well, and not increase process to consumers as much.
But mostly the tariffs are there to protect the capitalist class. When globalism hurts workers and offshores our jobs our politicians do nothing, but when profits are threatened they act swiftly.
No. Mostly they're put in place to protect the domestic industry from being run out of business from cheap exports.