A major effect of trade barriers such as tariffs,quotas,and nontariff barriers is that:

Question

Quizplus · Accepted Answer

Trade barriers result in higher prices for imported goods, which benefits domestic producers who compete with imports. However, consumers who purchase these goods face the higher prices, resulting in a loss for them. Therefore, trade barriers have a redistributive effect in favor of domestic producers and against consumers.

A Major Effect of Trade Barriers Such as Tariffs,quotas,and Nontariff