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Tariffs refer to trade barriers imposed by a country in the form of tax to limit or minimize the number of imports. The article is about the effect trade barriers have on consumer prices. However, with increasing globalization, there are few trade barriers as nations allow for free trade. The author assumes that the prices will increase due to the trade barriers as the companies will have to incur more costs of production. This will translate into expensive commodities (Ip, 2018). Imposing trade barriers will limit the number of multinationals in a country. This means that there will be fewer competitors in the market. Therefore, also, the prices will spike up. The absence of many competitors in the market limits consumer choices. Companies tend to outsource production factors such as land, labor, and…