do tariffs protect consumers
Tariffâs increase the cost of imports, leading to a decline in consumer surplus. For example, UK consumers have lost out from EU wide tariffs on agricultural products. Many agricultural goods are more expensive because of the high tariffs placed to protect EU farmers. It is hard to think of any benefits from tariffâs for consumers. Maybe in the long run consumers benefit from the protection of domestic industries if these industries use the tariffs to improve. Domestic Producers, who produce the good, will benefit from the introduction of tarrifs.