US EditionWhy Poor Countries Often Have High Tariffs?
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Why Poor Countries Often Have High Tariffs?
Key Takeaways: Countries with lower GDPs often impose higher tariffs to protect local industries. High tariffs can create trade imbalances but generate revenue for governments. Low-income countries use tariffs to shield their industries from foreign competition. While tariffs protect jobs, they can also increase costs for consumers. Some countries find success with tariffs, but they often slow long-term growth. What Are Tariffs? Tariffs are tax…
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