A tariff always lowers the well-being of each nation, including the nation imposing the tariff.

Name: A tariff always lowers the well-being of each nation, including the nation imposing the tariff.
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Question

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Tariffs can protect domestic industries from foreign competition, potentially preserving jobs and promoting local economic growth in the imposing nation. However, they can also lead to higher prices for consumers and retaliatory measures from other countries.

A Tariff Always Lowers the Well-Being of Each Nation, Including