Tariffs are common today and still growing in number since they have a long history of successfully protecting jobs in this country.

Question

Quizplus · Accepted Answer

In the 1920s, the institution of tariff barriers did not so much protect jobs as depress the demand for goods and services, thereby leading to the loss of jobs anyway, and the massive unemployment of the Great Depression of the 1930s.As a result of this lesson, after World War II the advanced nations of the world began to realize that if all countries could freely exchange the products that each could produce most efficiently, this would lead to lower prices all around.Thus began the removal of barriers to free trade.

Tariffs Are Common Today and Still Growing in Number Since