There has been a lot of talk going on about boycotting products given the discussion surrounding tariffs. But while many people might have been eager to express their vow to never buy from another country again, it might have unintended consequences of negatively impacting nearby economies, local markets, and resulting in thousands of jobs being lost depending on the extent of the boycott.
A number of companies might be stationed in one country but making products for another, so by boycotting that other country you are harming jobs in the first one.
When it comes to the boycott it could mean
- higher prices
- limited choices
- lower quality
- job losses
- economic slowdown
Supporting both local and international products can help to promote a balanced economy. Supporting local can bring benefits from boosting jobs, reducing environmental impact, offering better quality or freshness, promoting innovation at home, and strengthening communities.
Supporting international products also has its benefits, it isn't always a negative. It could bring access to greater variety of choice, along with that better prices and quality, more job opportunities, and greater political relations. It's unfortunate that millions of people would need to suffer for the small-mindedness of a few politicians who suggest that boycotting one country entirely or another might be a good idea.
trending back to local and small business
The pandemic already exposed weaknesses in the supply chain and the importance of strengthening markets and options at home. Once people couldn't find basics at the store they started wondering where those basics came from and they had to wait and see how long it would take for those shelves to refill. If a market is more diverse it can offer more strength than one which is susceptible to collapse because it was too exposed to disruption and couldn't handle unexpected changes, like an economic shutdown for an extended period of time. Supporting local is great if that's what individuals want to do but having the freedom to choose is what's most important of all, and for many their preferences might remain to be seeking out the best product for the best price and that might not always be a locally crafted one.