What are the advantages and disadvantages of enacting tariffs on imported goods?

1. What are the advantages and disadvantages of enacting tariffs on imported goods? Who suffers from tariffs? Who benefits from tariffs?
2. What if instead of importing goods we would produce everything in the U.S. and consume only U.S.-made goods and services? Identify advantages and disadvantages of this alternative.
3. What do you think is the best way of conducting international trade?

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