This paper examines the impact of tariff policy on international trade relations, exploring how tariffs—as tools of protectionism—affect trade flows, economic growth, supply chains, and geopolitical trade dynamics. Through a review of theoretical foundations and empirical literature, we explore the effects of tariffs on developed and developing economies, including their role in trade wars and multilateral frameworks. We include a quantitative overview (with a table and graph) of recent tariff trends and trade volumes to illustrate the key dynamics. Our analysis shows that while tariffs may offer short‐term protection for domestic industries, the longer‐term consequences on trade relations—such as retaliatory measures, trade diversion, reduced foreign direct investment (FDI), and supply chain disruption—often outweigh the benefits. The paper concludes with policy implications for maintaining stable international trade relations in an era of rising protectionism