Effects of Trade Tariffs on Domestic Economies and Global Trade: an Exploratory Analysis

2019 dissertation for MSc. Purpose – Firstly, the purpose of this study is to examine the trade tariffs, its reasons to be imposed and more importantly its outcomes to the economies.
Furthermore, the outcomes of the trade tariffs will be investigated both for domestic economies and in global trade. It shortly focus on to explore the relation between the tariffs and economic growth.
Methodology – The research has conducted by using exploratory design, it aims to explore while researching. Interpretivist approach has been applied.
Secondary data collection has followed, also quantitative and qualitative approach of data has used for analyzing the research objectives to gain in-depth
understanding. Multiple samples has used and purposeful sampling method has been applied. In order to validate the findings, convergence method will be applied. To test the reliability of findings, stability method will be applied.
Findings – Findings show that there are certain outcomes of the trade tariffs. However, the precision of outcomes are not certain, as there are certain variables that can change the outcomes of tariffs probabilistically. The outcomes could be in favor of the nation or not. Therefore, all theories couldn’t be proved in this research.
Practical Implications – The research have practical implications for governments while imposing trade tariffs. The study has found that the global trade is vulnerable especially because of domination of some currency which has been used in international trade. Therefore it has been recommended to encourage nations to trade with their own currencies in between many other
nations. Therefore trouble in one currency would not be affecting other nations. Another recommendation is that nations should avoid radical decisions on trade
tariffs.