The Effect of an Import Tariff

This video shows how an import tariff makes a country worse off by creating a deadweight loss. A tariff effectively raises the world price, which reduces the number of imports. This hurts domestic consumers because it means they must pay a higher price for the good. Domestic producers benefit, however, as they sell more of the good. The increase in producer surplus, however, is smaller than the decrease in consumer surplus, so the gains to producers are outweighed by the harm done to consumers. While the tariff raises revenue for the government, it also produces a deadweight loss (there is a reduction in the total surplus).
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