“Free trade produces better economic outcomes”
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Tariffs are taxes on imported goods designed to protect domestic industries from foreign competition, while protectionism broadly refers to policies that shield home markets from international trade. Economists remain divided on their long-term effects: supporters argue they protect jobs and infant industries, while critics contend they raise consumer prices, invite retaliation, and reduce overall economic efficiency. The debate has intensified in recent years as major economies, particularly the U.S., have deployed tariffs as tools of trade policy and geopolitical strategy.