Protective Tariffs Boost Domestic Industry, Curb Trade Deficit in India
The article discusses how protective tariffs can be used to protect a country's economy and industries, despite commitments to free trade agreements like the WTO. The researchers found that by increasing tariffs in India, imports decreased by $4.97 billion in seven months, with a 20% decrease in imports from China compared to the previous year. This shows that protective tariffs can have a significant impact on reducing imports and safeguarding the economy.