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> They just rise the price of imported products but not enough to incentivize local production
That depends on the tax rate. If you find that local production is not developing, increase the rate until it does.
> people would be required to buy your products unless you ran out of stock, in which case imports could be used to fill the gap.
This is exactly what an import tax is designed to do by making the local product cheaper than the imports.
> No it won't. It will create jobs in the sector of industry responsible for producing that stuff.
Jobs don't magically appear just because there is a demand for them. You need startup capital to employ people. The faster you can raise the capital, the faster you can create new jobs.