One of the realities of the global trading system is that average import tariffs are higher when imposed by developing countries than those implemented by advanced, high-income nations. To what extent are protectionist policies such as tariffs, import quotas, domestic subsidies and other trade barriers effective in supporting growth and development for lower and middle-income countries?
Trade-weighted average import tariff rate (2018) Source: World Economic Forum, Competitiveness Report, 2018
Main arguments/justifications for protectionism
However there are also downsides / risks for developing countries if they maintain high average tariffs on imported goods and services:
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