President Bill Clinton attempted to protect American firms from foreign competition by placing a government tax on Japanese automobiles imported to the United States.President Clinton's goal was to raise the price on Japanese imports, thereby encouraging American consumers to purchase American-made automobiles.The tax the President threatened to impose is an example of a(n) __________.

Question

Quizplus · Accepted Answer

A tariff is a tax on imported goods, intended to make them more expensive and less competitive compared to domestically produced goods. In this case, President Clinton's proposed tax on Japanese automobiles was a form of tariff, as he hoped it would encourage consumers to buy American-made cars instead.

President Bill Clinton Attempted to Protect American Firms from Foreign