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 __________.

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The tax imposed on Japanese automobiles is an example of a tariff, which is a tax that a government places on imported goods to raise their price and make them less competitive with domestic products. Boycotts are voluntary refusals to buy products, quotas are specific limits on the amount of goods that can be imported, sanctions are penalties or trade restrictions, and subsidies are financial assistance given by a government to help support a particular industry.

President Bill Clinton Attempted to Protect American Firms from Foreign