Average tariff levels on manufactured goods in international trade have declined significantly since the 1970s. This may not always be a good thing. Why?

Question

Quizplus · Accepted Answer

Lower average tariff levels can lead to devastating foreign competition for infant industries, as they are not able to compete with established industries that may have lower production costs due to economies of scale or other advantages.

Average Tariff Levels on Manufactured Goods in International Trade Have