This study examines the role of tariffs during the East Asian financial crisis and finds that there is a role of tariffs when it comes to fighting the negative impact of a financial downturn. The first section reviews the pre-crisis trade environment, examining economic performance and main policy developments. Next, this paper examines the management and adjustment measures taken in the wake of the financial downturn. This is followed by a detailed analysis of the Affected-5's response in terms of their tariff policy. Finally, the study concludes with an identification of lessons about the role of tariffs.