Cons of Protectionism

-Tariffs raise the price of imports.

-This impacts consumers in the country applying the tariff.

-When trading partners retaliate with their own tariffs, it raises the

cost of doing business for exporting industries.

-Tariffs cause a decrease in product quality.

-High tariffs and quotas can result in trade wars between nations.

These disagreements hurt the incomes of each country involved in the disputes.

-Trade only works when countries import and export.

-Increasing U.S. protectionism will further slow economic growth and

cause more layoffs, not less.

-weakens industry