Tariffs
Taxes on imported (sometimes exported) goods—raising domestic prices, shielding producers, and shaping trade balances.
Tariffs generate revenue but more often serve protection: buyers pay more, exporters abroad may shrink sales. Retaliation can cascade through supply chains, visible in state port and manufacturing exposure.
Industrial policy overlap
Tariffs are one lever inside broader industrial-policy toolkits; their incidence falls unevenly on consumers and downstream industries.