The U.S.Rice Millers' Association claims that if the Japanese rice market were opened to imports by lowering __________,lower prices would save Japanese consumers $6 billion annually and the United States would gain a large share of the Japanese rice market.
A)boycotts
B)tariffs
C)quotas
D)sanctions
E)subsidies

Question

Quizplus · Accepted Answer

Tariffs are taxes or duties levied on imports, and are often used to restrict trade by making imports more expensive. By lowering tariffs on rice imports, the Japanese rice market would become more open to foreign competition, which would lower prices for Japanese consumers and likely increase market share for foreign rice producers, such as those in the United States.

The USRice Millers' Association Claims That If the Japanese Rice Market