The U.S.Rice Millers' Association claims that if the Japanese rice market were opened to imports by lowering __________, lower prices would save Japanese consumers $6 billion annually, and the U.S.would gain a large share of the Japanese rice market.
A)boycotts
B)tariffs
C)quotas
D)sanctions
E)exchange subsidies

Question

Quizplus · Accepted Answer

Tariffs are taxes placed on imported goods. If the Japanese government were to lower tariffs on imported rice, it would become cheaper for Japanese consumers to purchase rice from other countries, including the U.S. This could lead to significant cost savings for Japanese consumers and increased market share for U.S. rice producers.

The USRice Millers' Association Claims That If the Japanese Rice Market