BUS 100 Discussion Board Global

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I’m working on a business question and need an explanation and answer to help me learn.

If a nation decides that it is receiving too many imports, at the expense of its domestic industries, it might consider adding tariffs (taxes) to the import goods.

This philosophy is called protectionism.  

What is YOUR opinion on protectionism?  Would you be in favor of adding tariffs to imports, in an effort to protect domestic production?

Why or why not?  What would be the benefit of protectionism?  What would be the cost, to the consumer, of protectionism?


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