Tariffs contribute to higher prices of textile products imported into the United States, but import quotas on textiles brought into the United States do not.

Question

Quizplus · Accepted Answer

Import quotas limit the quantity of a particular product that can be imported into the United States, which can lead to increased competition and potentially lower prices. However, tariffs impose a tax on imported goods, which raises their price and makes domestic products more competitive. Therefore, tariffs contribute to higher prices of textile products imported into the United States, but import quotas do not.

Tariffs Contribute to Higher Prices of Textile Products Imported into the United