Final answer:
The imposition of a tariff is least likely to result in the promotion of free trade. It generally leads to a decrease in imports, an increase in consumer prices, and can escalate to a trade war, but it contradicts the principles of free trade which aim to remove trade barriers.
Step-by-step explanation:
The imposition of a tariff on a product is least likely to result in the promotion of free trade. Tariffs are a form of protectionist policy, aimed at protecting domestic industries by making imported goods more expensive and less competitive in the domestic market. Hence, they are contrary to the principles of free trade, which advocates for the reduction of barriers to trade and commerce between countries. A tariff on imported goods typically leads to a decrease in imports, as the higher prices make them less attractive to consumers, favoring domestically produced alternatives. Additionally, tariffs often lead to an increase in consumer prices, because the additional costs of tariffs are generally passed on to consumers in the form of higher prices for both imported and domestic goods.
Furthermore, if a country imposes a tariff, it could provoke retaliatory measures from its trading partners, potentially escalating into a trade war. However, tariff imposition itself does not promote free trade; rather, it can be seen as a step away from free trade agreements and policies. As discussed earlier, a decrease in tariffs would be akin to a reduction in production costs, resulting in a shift to the right or downward in the supply curve, leading to a potential decrease in the equilibrium price and an increase in the number of goods like flat-screen televisions in the market.