Tariffs exist to protect local enterprises from perceived unfair competition from overseas competitors. Tariffs are a two-edged sword. Tariffs may mean less access to markets for exporters, higher prices, and less choice for consumers, but they also may mean better quality goods and more jobs for locals, with better pay and working conditions.
The Transpacific Partnership views all tariffs as bad. The TPPA encourages signatory countries to do away with tariffs. For our government it has been one of the agreement’s biggest selling points. New Zealand jumped the gun and did away with most of our tariffs in the 1980s and 90s. Most other countries did not follow suit. Continue reading