> Can you explain why countries have tariffs if tariffs are bad for their economies as a general principle?
Primarily special interest groups. e.g. You have a hundred people, everyone loses 1% of their salary due to tariffs, but one person retains 90% of the tariffs and the remaining 10% is lost. The net result is negative, most people don't care much about the 1%, but the one winner is vociferously against losing his entire income.
Primarily special interest groups. e.g. You have a hundred people, everyone loses 1% of their salary due to tariffs, but one person retains 90% of the tariffs and the remaining 10% is lost. The net result is negative, most people don't care much about the 1%, but the one winner is vociferously against losing his entire income.