provides fewer choices to consumers

IMF research similarly shows that even low tariffs act as a drag on productivity, innovation and unemployment, as well as aggravating inequality and promoting self-defeating real exchange rate appreciation. By insulating domestic industries from competition, tariffs discourage firms from investing in new technologies and improving operational efficiencies. The net effect is an economy that grows more slowly, offers fewer high-quality jobs and provides fewer choices to consumers. Retaining nuisance tariffs has both direct and indirect costs. Direct costs include increased prices for imported goods, disproportionately affecting low-income households that spend a larger share of their income on consumables. Higher prices also raise businesses’ input costs, particularly in sectors like manufacturing, construction, agriculture and retail where imported materials and goods are integral to efficient operations. สล็อต เว็บตรง