Tariffs and quotas – are they good or bad?

EACH time a household goes shopping, there is a tendency for the household to pay more for the goods purchased owing to tariffs and quotas.

Sometimes, it can be really tough to accept that the prices of the goods the household plans to purchase costs them twice as much or even more. This is largely due to the imposition of tariffs and quotas. Goods like dairy products, vegetables, tobacco, clothes, auto parts, leather items, shoes, peanuts and chocolates are some of the common items we pay more due to the effects from tariffs or quotas.