The statement that "tariffs are needed to protect American firms from foreign producers that sell excess goods in the American market at less than cost" would be most closely associated with which tariff argument?

Question

Quizplus · Accepted Answer

This statement is associated with the argument for protection against dumping, which occurs when foreign producers sell goods in the American market at a price lower than their cost of production, which may drive domestic firms out of business. Tariffs can be used to counteract this behavior and protect domestic producers from unfair competition.

The Statement That "Tariffs Are Needed to Protect American Firms