Substitution effects, where consumers or businesses shift to domestic alternatives or different trade partners, can offset some tariff costs but often introduce inefficiencies such as higher logistical complexities, increased transportation costs, and supply chain disruptions.

Authors

• Person: Ramu Thiagarajan, Jennifer Bender, Michael Metcalfe Organization: State Street
  The price of protectionism: Understanding the economic tradeoffs of ...

Sources

• The price of protectionism: Understanding the economic tradeoffs of ... www.statestreet.com Ramu Thiagarajan, Jennifer Bender, Michael Metcalfe · State Street via serper

Referenced by nodes (1)

• supply chain disruptions concept