Part 4/7:
The discussion also pointed towards the potential benefits and drawbacks of tariffs in terms of market competition. With tariffs in place, the argument is made that the domestic manufacturing sector may gain an advantage over foreign competitors that benefit from lower labor costs due to less stringent labor laws. One side argues for a level playing field, where American products can compete without the added pressure of imported goods undercutting prices.
It is essential to note, however, that the relationship between tariffs and market competition is complex. An increase in domestic competition may drive innovation and quality improvements, but it also risks raising costs for consumers if American companies cannot compete with the lower prices of foreign products.