Who Are The Main Beneficiaries Of Protective Tariffs Such As Those Imposed On Steel Imports?

The main aim of protective tariffs is protection of the industries operating in a country. It is imposed by the government, with the point of view of developing the local industry. The main beneficiaries of protective tariffs on a commodity such as steel are the steel manufacturers of the country. As a result of the tariffs on imports, all the imported steel will be very higher in price. This will promote the local manufacturers of steel. As people will be motivated to buy the locally manufactured steel.