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The main beneficiaries from protection include those owners and workers in the protected industries and in some cases the government benefits from tariff revenue (Parry & Kemp 2002, p. 93).
Protection has got its downsides such as the possible costs on the economy. Industries that obtain protection will expand and use resources that other industries could have used. This will lead to a decline in production in non-protected industries and possibly higher prices for imported inputs which will lead to a reduction in competitiveness. Protection which obviously causes a decrease in imports, also leads to a decrease in exports...
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