The imposition of tariffs on Korean steel has led to ________ in imports of Korean steel to the United States and ________ the price of steel in the United States.

Question

Quizplus · Accepted Answer

The imposition of tariffs on Korean steel would make it more expensive for Korean steel to enter the United States, which would likely lead to a decrease in imports of Korean steel to the United States. With a decrease in supply, the price of steel in the United States would likely increase. Therefore, the answer is B: a decrease in imports of Korean steel to the United States and a raise in the price of steel in the United States.

The Imposition of Tariffs on Korean Steel Has Led to ________