The United States would gain from the elimination of tariffs and quotas even if other countries do not reduce their tariffs and quotas.

Question

Quizplus · Accepted Answer

Eliminating tariffs and quotas in the United States would lower prices for consumers, increase competition, and boost economic growth as businesses can access cheaper raw materials and intermediate goods. This in turn would create new job opportunities and increase exports. Even if other countries do not reciprocate by reducing their tariffs and quotas, the United States would still benefit from such measures.

The United States Would Gain from the Elimination of Tariffs