What brands do you associate with?
Multinational brands making huge profits in other countries. They earn profit by producing in territories with lower production costs, cheaper labour, and a guaranteed supply of raw materials.
But the United States’ imposition of tariffs, as economically irrational that leads towards as end of globalisation. Government’s will promote and support local businesses and products manufactured in their homeland.
Turkish economist Dani Rodrik puts forward his theory of the “trilemma”. This theory states that democracy and national sovereignty are fundamentally incompatible with globalisation.
A tariff war poses a significant danger to globalization by increasing trade barriers, reducing overall world trade, disrupting global supply chains, and increasing costs for consumers and businesses, ultimately hindering global economic growth.
Tariffs, which act as taxes on imported goods, can lead to higher consumer prices and reduced business profit margins, while leading to a retreat from open economies and protectionism. Under this protectionism, everyone will lose. It would also mean the end of globalisation.









