Protectionism via tariffs reduces import competition, which helps domestic manufacturers and workers but tends to raise prices, allows production of inferior goods, enables strong unions and high wages that further raise costs, makes consumers pay more, and can reduce exports as domestic producers become globally uncompetitive.

causalpending

Speaker

Howard Marks

Evidence Quote

consumers pay more than they would if imports were unconstrained, and the volume of exports may actually decline since domestic producers might become globally uncompetitive.

Source

More on Repealing the Laws of EconomicsOaktree Capital
Created: 6/18/2026, 2:18:14 PM

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