Import tariffs beneﬁt the consumers of the product involved.

Name: Import tariffs beneﬁt the consumers of the product involved.
Brand: Quizplus
Rating: 4.9 (44 reviews)

Question

Quizplus · Accepted Answer

Import tariffs increase the price of imported products, making them more expensive for consumers. This can lead to a decrease in demand for the product, as consumers look for cheaper alternatives. Additionally, tariffs can lead to retaliation from other countries, potentially harming industries and causing job losses.

Import Tariffs Beneﬁt the Consumers of the Product Involved