Many U.S. producers complain about limited access to the Japanese market. They say that they cannot export to Japan because Japanese import restrictions are so severe. Whogains? Who loses?

Question

Quizplus · Accepted Answer

Japanese producers gain because they face less competition from U.S. products, allowing them to maintain higher prices and market share. U.S. producers lose because they are denied access to a potentially lucrative market. Japanese consumers lose because they have less choice and potentially pay higher prices for goods that could be cheaper if imported from the U.S.

Many US Producers Complain About Limited Access to the Japanese Market