In the late 1800s, why were many European nations looking overseas for places to sell their goods?

In the late 1800s, many European nations were indeed looking overseas for places to sell their goods primarily due to the impact of tariffs, which had significantly reduced trade among industrialized nations. As countries implemented protective tariffs to shield their domestic industries, the flow of goods and trade between these nations began to decline. This contraction in international trade pushed European nations to seek new markets abroad where they could sell their surplus products without the constraints imposed by tariffs.

The search for new markets was also motivated by the need to sustain economic growth and profit margins in the face of increasing production capacity. As industrialization progressed, European manufacturers produced goods at a rate that domestic markets could not consume, making overseas markets essential for maintaining economic stability. Accessing regions like Asia and Africa allowed these nations to expand their market reach and mitigate the effects of tariff barriers at home.