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Low tariffs, high protection

Even relatively moderate tariffs of around 20 per cent can be highly protective and distortionary

Topics
Trade Wars  |  Technology  |  Tariff

Shankar Acharya 

Shankar Acharya

In a recent column (Wanted: Better trade policies, August 9, 2018), I lamented that the revival of higher protective customs tariffs over the past year (especially in the February 2018 Union budget and several times since) has been a damaging reversal of the cross-party reform commitment to reducing our tariffs to “East Asian levels” that had prevailed since 1991.

I pointed out that such tariffs raise domestic costs and prices, hurt exports, foster inefficiency, encourage further tariff hikes, invite retaliation and generally weaken the development of an efficient and ...

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First Published: Wed, October 10 2018. 22:53 IST
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