Question

Did high tariffs end up hurting or helping world economies? Explain your answer

Answer 1

High tariffs cause inflation, because of this it may start to seem like it helps the economy, but in the end it caused more harm than help.
High tariffs destroyed the export and import economy.
Basic rule:
You want more exports, than imports.
High tariffs were supposed to help do this, but instead somehow it backfired.

Answer 2

Import tariffs protects the host nations industries giving it's residence employment, this was done in Britain and then the US while not permitting other nation of having import tariffs. The results can be seen with NAFT which allowed US industries to outsource in these regions, without fear of tariffs, resulting in loss of US jobs. There's a new Free Trade Zone presently contemplated for the Pacific region which well do the same. This is the result of Globalization increasing competition between countries work forces but still the same greedy corporations.