Preservation of national security is one argument in favor of trade restrictions.
Protecting key industries such as the steel industry can be justified in the name of maintaining access to important war materials.
Correct Answer:
Verified
Q142: Reducing protectionism allows greater gains from free
Q142: What is a multilateral trade pact? Discuss
Q144: As a result of GATT,tariff rates in
Q144: Why would the establishment of protective trade
Q145: Describe the pressures that discourage trade.
Q146: An embargo is a prohibition against trading
Q147: Quotas are a much greater threat to
Q147: Explain how it is possible for a
Q148: What is the "beggar-thy-neighbor" policy,and why is
Q149: Trade restrictions designed to benefit the import-competing
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents