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johannes1234321 2 days ago

Using tariffs is A common way to protect local industry. However it is a dangerous weapon, which has downsides. In history tariffs have show to lead to high prices on the domestic market and products which are subpar to globally standards. Domestic companies don't have pressure to innovate, while global market has more competition.

Consequence of that is protection by product group for key products one wants to have locally and not per origin on all kinds of goods.

This can lead to short term wins, but backfire after a while.