how do situations like this typically progress in high tariff countries? I know for instance Brazil has a high tariff rate on certain imports. Does a black market typically spring up to fill the gap? It's hard to imagine that can happen here, no matter how bad the tariffs got.

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carlosjobim 2 days ago | parent | next [-]

The European Union has been a high tariff zone for a long time, so you can study their situation.

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jddj 2 days ago | parent [-]

Are you referring to VAT?

	▲	carlosjobim 2 days ago \| parent [-]
		Steel. The EU started out as a steel customs union, and has always had high import duties on steel, which is the subject matter of the article. Just a few months ago, the European Commission put on new, massive tariffs on Asian steel manufacturers. So I guess I invite all hackers here to freak out, scream about "Bat shit insane fascist!", tear their own hair, etc. Especially since an eight of the EU budget comes from tariffs. Or quietly ignore the facts and wait to jump onto the next outrage bandwagon.

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adgjlsfhk1 2 days ago | parent | prev [-]

poorly