Higher tariffs leads to less overall supply in the domestic market which leads to higher prices for consumers. Higher prices for consumers leads to grumpy consumers at the people who supported the tariff in the first place.
Moreover, longer term tariffs leads to domestic suppliers not being as efficient and hence fall behind international competition. Thus, domestic consumers get garbage cars and become grumpy at the people who supported the tariff in the first place.
Comments
Higher tariffs leads to less overall supply in the domestic market which leads to higher prices for consumers. Higher prices for consumers leads to grumpy consumers at the people who supported the tariff in the first place.
Moreover, longer term tariffs leads to domestic suppliers not being as efficient and hence fall behind international competition. Thus, domestic consumers get garbage cars and become grumpy at the people who supported the tariff in the first place.