It is a valid argument that industries need to be protected from foreign competition because foreign wages are substantially lower than wages paid to U.S. workers.

Question

Quizplus · Accepted Answer

While protecting industries from foreign competition due to lower foreign wages might protect domestic jobs in the short term, it can lead to inefficiencies, higher prices for consumers, and retaliation from other countries. Economic theory and practice suggest that free trade generally benefits countries by allowing them to specialize in industries where they have a comparative advantage.

It Is a Valid Argument That Industries Need to Be