What does a successful protective tariff do?

Question

Quizplus · Accepted Answer

A successful protective tariff creates a price advantage for domestic industries producing the same or similar products as the taxed imported goods. This advantage allows them to increase their output and profits leading to an "economic rent" or a surplus that goes to the domestic industries. This, in turn, makes the domestic industries more competitive vis-à-vis the foreign manufacturers. It does not necessarily force the foreign manufacturers to pay higher wages or mandate accelerated technological advance in the domestic economy.

What Does a Successful Protective Tariff Do