Politicians often argue for tariff increases in order to reduce the size of a balance of trade deficit. If tariffs are increased, the long-run effect is most likely to be:

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Tariffs typically make imported goods more expensive, leading to a decrease in imports as consumers and businesses look for domestic alternatives. However, other countries may retaliate with their own tariffs, leading to a decrease in exports as well. Thus, both imports and exports are likely to decrease in the long run.

Politicians Often Argue for Tariff Increases in Order to Reduce