Recently,the Japanese government,under pressure from its domestic farm lobby,slapped government taxes on mushrooms,leeks,and the reeds used in tatami mats that were being imported from China.Japan levied
A) GATT taxes.
B) quotas.
C) tariffs.
D) excise taxes.
E) subsidies.

Question

Quizplus · Accepted Answer

Japan imposed tariffs on mushrooms, leeks, and reeds imported from China. Tariffs are taxes imposed on imported goods, making them more expensive and less competitive in the domestic market, thereby protecting the domestic producers. GATT taxes, quotas, and subsidies are different trade policies that are not applicable in this case. Excise taxes are usually imposed on specific goods, such as alcohol and tobacco, and are not relevant in this situation.

Recently,the Japanese Government,under Pressure from Its Domestic Farm Lobby,slapped Government