As a result of tariffs, domestic producers tend to:

Question

Quizplus · Accepted Answer

Tariffs increase the price of imported goods, making domestic products relatively cheaper. This gives domestic producers a competitive advantage and allows them to sell more goods at a higher price, thus gaining more profits. Domestic consumers, on the other hand, have to pay higher prices for the same goods, reducing their purchasing power. Therefore, domestic producers tend to gain more than domestic consumers lose.

As a Result of Tariffs, Domestic Producers Tend To