In February 2000, the United States imposed a tax on imported steel in an effort to protect about 5,000 U.S. jobs. Another name for this levied tax is a(n) ________.

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Quizplus · Accepted Answer

A tariff is a tax on imported goods, and in this case, it was imposed on steel imports to protect domestic jobs. An embargo is a complete ban on trade with a particular country, and this was not the case with the steel tax. Balance of trade refers to the difference between a country's exports and imports, and this is not relevant to this question. A quota is a limit on the quantity of a particular product that can be imported, and this was not the case with the steel tax. Exchange control refers to government restrictions on the buying and selling of foreign currencies, and this is also not relevant to this question.

In February 2000, the United States Imposed a Tax on Imported