Final answer:
Tariffs were implemented to protect emerging industries but could lead to reduced international competitiveness and trade disputes.
Step-by-step explanation:
Tariffs, or taxes on imported goods, were implemented to protect emerging industries from a flood of British manufactured goods. They increased the price of imports, encouraging consumers to buy domestically-produced goods. While this helped fledgling industries in developing nations, it also reduced the incentive for these industries to become internationally competitive. Governments that constantly raised tariffs risked subsidizing inefficient industries and reducing the welfare of their consumers. Additionally, tariffs could lead to international trade disputes and retaliatory actions from other countries.