Tariffs distort market signals by encouraging resources to flow into less efficient domestic industries rather than more productive international sectors, resulting in deadweight losses and reduced total economic welfare.

Authors

• Person: Not available Organization: ERC Council
  Tariffs and Protectionism - Economic Research Council

Sources

• Tariffs and Protectionism - Economic Research Council ercouncil.org ERC Council via serper

Referenced by nodes (1)

• tariff concept