It is possible for some individuals within countries to lose from reducing international trade barriers.

Question

Quizplus · Accepted Answer

When trade barriers are reduced or eliminated, it can lead to increased competition from foreign firms, causing some domestic firms to lose market share, revenue, and even being forced to shut down their business. This can result in job losses for workers employed in these industries. Additionally, consumers may be able to purchase cheaper imports, but domestic producers may not be able to compete with these lower prices, leading to a decline in their revenue and possibly shutting down their business. Therefore, reducing international trade barriers can have winners and losers within a country.

It Is Possible for Some Individuals Within Countries to Lose