1. importing your inputs becomes more expensive.
2. other countries will impose retaliatory tariffs on your exports.
This is not how to do economic development; Asian countries instead used export promotion. (…And wage suppression and currency weakening.)
1. importing your inputs becomes more expensive.
2. other countries will impose retaliatory tariffs on your exports.
This is not how to do economic development; Asian countries instead used export promotion. (…And wage suppression and currency weakening.)