Economics Dictionary of ArgumentsHome
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| Tariff policy: Tariff policy refers to a government's strategy of using tariffs - taxes on imported goods -to influence international trade. Governments implement this policy for various reasons, such as protecting domestic industries from foreign competition, generating revenue, or using them as a bargaining tool in trade negotiations. This policy can lead to higher prices for consumers and potential retaliation from other countries. See also Tariffs, Tariff history, Tariff impacts._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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IMF Working Papers on Tariff Policy - Dictionary of Arguments
Jaumotte I 20 Tariff Policy/Eugster/Jaumotte/MacDonald/Piazza: Our findings* have important policy implications, in line with much of the existing literature. First, domestic protection generally does not improve economic prospects in the protectionist country. This is due to the combination of negligible or even negative effects on the sector that benefits from protection and the fact that the home country tends to suffer most from more expensive intermediate inputs. Second, tariffs can have wideranging consequences on sectors and countries not directly targeted. While some countries and sectors may benefit from the effects of tariffs imposed on competitors, others see their demand suppressed even if their goods or services are not exported directly. Third, bilateral tariff wars hurt the two parties involved the most, with third countries sometimes benefiting on net from trade diversion. Even if a bilateral tariff was not met with a reciprocal tariff from the targeted country, it often does not benefit the country imposing the tariff. Instead, imports from the targeted country are likely to be replaced by imports from elsewhere. Related, Eugster et al. (2020)(1) discuss how bilateral tariffs and trade balances are largely irrelevant for macroeconomic performance. >US Import Tariffs, >Tariff responsivity, >Tariff impacts, >Tariffs, >Tariff history, >International trade. * Johannes Eugster, Florence Jaumotte, Margaux MacDonald, and Roberto Piazza. (2022). The Effect of Tariffs in Global Value Chains. IMF Working paper 22/40. International Monetary Fund. 1. Eugster, Johannes, Florence Jaumotte, Margaux MacDonald, Roberto Piazza 2020. "Are Bilateral Trade Balances Irrelevant?," IMF Working Papers 2020/210, International Monetary Fund._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
IMF Working Papers Jaumotte I Florence Jaumotte Johannes Eugster Margaux MacDonald, The Effect of Tariffs in Global Value Chains. IMF Working paper 22/40. International Monetary Fund. Washington, D.C. 2022 |
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