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Sagot :
Tariffs and subsidies both raise the price of imported goods relative to domestic goods, reducing imports. Trade barriers are frequently referred to as "protection" because their stated purpose is to shield or advance specific industries or segments of an economy.
Tariffs, or import taxes, are the most common type of trade barrier. Tariffs raise the cost of imported goods in comparison to domestic goods (good produced at home). Another common trade barrier is a government subsidy to a specific domestic industry. Subsidies make those goods less expensive to produce than they would be in foreign markets.
Tariffs or subsidies: which is preferable?
Abstract. Subsidies are superior to tariffs for achieving any economic or non-economic goal in the absence of directly trade-related distortions or policy goals, according to trade theory.
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