#114 Concept: Tariffs escalation

The International Business Podcast

If you work across time zones, borders and cultures, this is the show for you. In the "Concept" series, Leo aims at defining a topic in international business. These are shorter episodes to illustrate key concepts in this discipline.

Today, we talk about escalation, specifically tariffs escalation.

Tariff escalation refers to a trade policy characterized by protectionist measures, in which nations implement elevated import tariffs on manufactured products compared to those levied on raw materials or unrefined goods. This approach aims to safeguard domestic industries by making imported finished items more expensive, thereby encouraging consumers to purchase locally produced alternatives. As a result, countries often seek to promote their own economic interests while simultaneously limiting foreign competition in the market.

Find further information here:

• US, China trade tariffs escalating would be ‘costly for everybody,’ IMF deputy director says
• Trump’s tariff proposal could cost over $2,000 (£1,500) per capita to US consumers
• Trump's proposed tariffs would raise prices for these products, experts say

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