why are tariffs on imports bad?

Question

I hear that almost all economists agree that tariffs on imports are a bad idea. I never hear anyone say why though.

Answer 1

It restricts trade then they put tariffs on our stuff as revenge.

Answer 2

It's extra cost for the exporter and it discourages trade. If the U.S. has a political problem with a certain exporting country, generally, the tariff is higher than with Canada, for example. Again, the tariff will make the exporter think twice about doing business with the U.S. The downside of that is reducing the supply of a certain good. More regulation, less free market.

Another problem with tariffs is that if they do prevent goods from coming in, and there is a shortage of such a good, smuggling and the black market will rise.

Answer 3

If i remember correctly Tariffs are ways to keep buying American made products instead of buying made in china stuff for a tenth of the price. But this is a good thing because it helps our economy and in the end keeps us employed and prices down on things we could only get here

Answer 4

Tariffs on imports would raise the purchase price that we would have to pay for that item.

Answer 5

tarrifs are bad because they cause a dead weight loss in the economy. it is hard to explain w/o a graph but i'l try. a tarrif reduces consumer and producers surplus.some of this surplus goes to the govt as a tarrif revenue but much is lost to nothing ness. A tarrif restricts free trade which means that international markets can no longer work towards an efficient equilibrium. resources are not allocated as efficiently as possible (dead weight loss).

they are bad for an economy but are implemented soley to protect domestic producers against cheaper imports coming in and forcing them out of the market.

Answer 6

it discourages trade and innovation