Tariffs can serve two strategic economic purposes:
- Protecting established domestic industries from foreign competition
- Nurturing new domestic industries in their early stages (often called "infant industry protection")
However, these measures are most effective when:
- The protected domestic industry has reasonable potential to become competitive
- The price increases for consumers remain moderate
- The tariffs are targeted and temporary rather than broad and permanent
Tariffs across all imports tend to harm economic efficiency by raising consumer prices and reducing competition without clear strategic benefits.
How's that as a clearer way to express the concept?
Very clear, and well said! Very concise summation of why right now is the perfect time for intelligently applied tariffs.
Thank you