Assume that a tariff is imposed on Chinese imports into the United States.This tariff is likely to _____ U.S.producers and _____ Chinese producers.

Question

Quizplus · Accepted Answer

Tariffs on imports generally benefit domestic producers by making foreign goods more expensive, thus reducing competition for them. Conversely, they penalize foreign producers by making their goods less competitive in the market where the tariff is imposed.

Assume That a Tariff Is Imposed on Chinese Imports into the United