The United States does not need tariffs to allow us to compete with cheap foreign labor. While foreign labor may be cheaper, the U.S can still compete by utilizing advancements in technology, innovation, and increasing efficiency in production processes. Tariffs can actually harm U.S consumers by increasing the prices of imported goods and creating trade wars.

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The United States

Question 214

Multiple Choice

The United States

A) needs tariffs to allow us to compete with cheap foreign labor.
B) does not need tariffs to allow us to compete with cheap foreign labor.
C) should not trade with countries that have cheap labor.
D) will not benefit from trade with countries that have cheap labor.
E) avoids trading with countries that have cheap labor.

Correct Answer: