The severity of the impact of tariffs depends on the availability of comparable alternatives; in markets with close substitutes, the impact is less severe, while in markets with limited substitutes, businesses may face higher production costs and pass them on to consumers.

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 (2)

• tariff concept
• production costs concept