Hypocrisy is orthogonal to effectiveness. If it costs less to switch to renewables than pay the tariffs then they stop burning coal.
But the hypocrisy argument fails anyway because the renewable alternatives that exist today didn't exist a hundred years ago. It's altogether different to choose coal when the science is less well understood and no viable alternatives are known to exist than to do so today when that is not the case.
There is also a difference in scale. There are more than four times as many people in the developing world as there are in the developed world. If they used the same amount per capita then they would release more carbon in 10 years than we did in 40. Even if the First World hadn't burned an ounce of coal, they still wouldn't be able to do what we actually did. But they also don't need to today.
And it would be easier to pass tariffs than convince the population of the First World to send their money overseas. This needs to happen right now, not after people argue about it for another twenty years.