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Japan and the United States are discussing slashing Japan's tariff on imported low-price pork products to about a quarter of the current rate as soon as an envisioned Trans-Pacific Partnership free trade agreement enters into force, informed sources said Thursday. The pork tariff would be immediately lowered from the current ¥482 per kilogram to ¥125.

As stocks tumble and populist frustration with the political and financial classes grows, Trump is bringing protectionism back in vogue -- making threats to upend trends toward globalization that are decades in the making through the sheer force of his negotiating talents. I have chosen this article in order to convey how politicians can use tariffs as a means to attract votes. Tariffs play a huge role in determining the import-export balance and using them in favor of domestic producers- even though it may cause the economy harm- may result with gaining advantage in ballots.

The head of Jersey Electricity Company has defended the decision to put electricity prices up by 25% at the beginning of 2009. Since then the company has reduced its charges by about 5% percent. In 2009 the company made a profit of nearly £10m, which was down 10% on the previous year.

Brazil raised tariffs on 100 sectors last October to defend is declining industrial base, with fees of up to 25pc on machinery, iron and steel, plastics, chemicals, paper and wood products. It is now pursuing a full-blown "industrial policy" under its Plano Brasil Maior, with tax concessions for those who build plant locally.