The right of nations to impose tariffs
A principle established from the Global South
A tariff is a tax imposed by a country on the goods and services imported from another country, according to Investopedia. Governments impose tariffs for several reasons, including the protection of domestic industries, because tariffs increase the prices of goods and services of competing producers and providers in other countries. “One of the most popular uses for tariffs is to use them to ensure domestic products receive preference within a country,” thereby supporting the country’s businesses and the national economy. The United States made extensive use of tariffs in the nineteenth century to protect its young industries, which were starting late in comparison with Great Britain and Europe.
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Protection of national economies and the use of tariffs by the Third World project, 1955-1983
Following the Second World War, the United States confronted obstacles to reconversion to a peacetime economy, as a result of high levels of unemployment, due to the reduction of war-related…