Advocates for tariffs and import quotas offer a variety of arguments. Three common arguments are national security, job creation, and the infant industry argument.
The national security argument is based on the proposition that overseas sources of goods are vulnerable to disruption in times of international conflict; therefore, a country should protect domestic suppliers of crucial goods with the aim to be self-
The job creation argument points to the additional jobs created in import-
Finally, the infant industry argument, often raised in newly industrializing countries, holds that new industries require a temporary period of trade protection to get established. For example, in the 1950s many countries in Latin America imposed tariffs and import quotas on manufactured goods, in an effort to switch from their traditional role as exporters of raw materials to a new status as industrial countries.
In theory, the argument for infant industry protection can be compelling, particularly in high-