The unilateral decision by a country to reduce the
tariffs it imposes on its
imports. Tariffs are considered economically
inefficient because they make imports less
competitive than domestically produced goods, which can result in more
expensive products for consumers. Across the board tariff reductions help prevent this; they also may be intended to encourage the country's
trade partners to do the same and make the country's
exports more competitive abroad. Opponents of across the board tariff reductions, however, argue that the increased competition can drive domestic companies out of business, eliminating
jobs.