What are the consequences of the protectionist policy (e.g., tariffs on imports)? Check all that apply,1 Point Import tariffs increase the costs and the prices of foreign goods. Tariffs are beneficial for consumers. The protectionist policy likely provokes retaliations from other countries, leading to a trade war that causes the global economy to shrink. The retaliations from other countries hurt the U.S. producers as the U.S. exports become more expensive. The protectionist policy allows the U.S. to gain a level playing field against unfair trade practices