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    tariffs

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    Thirty furniture makers in the United States recently asked the U.S. International Trade Commission (ITC) to impose high tariffs on Chinese makers of wooden products in the U.S. market with extremely low prices. The U.S. manufacturers claimed that the Chinese imports single-handedly sent their industry into a deep tailspin. The Chinese factory owners contend their low-cost furniture is the result of taking a labor-intensive product and building it with low-priced workers in high-tech modern factories.

    How would you vote in this case? Explain in-depth.

    Please include references if used.

    Thank you so much!

    © BrainMass Inc. brainmass.com October 9, 2019, 11:18 pm ad1c9bdddf
    https://brainmass.com/business/international-business-management/tariffs-251917

    Solution Preview

    In this case, I would vote against the furniture makers in the US. Although I understand that the furniture makers in the US are facing challenges related to their survival in the industry due to low cost Chinese manufacturers, the imposition of high tariffs on import of Chinese products in the US markets means loss for the consumers. A moderate tariff is still advisable, however, extremely high import ...

    Solution Summary

    Thirty furniture makers in the United States recently asked the U.S. International Trade Commission (ITC) to impose high tariffs on Chinese makers of wooden products in the U.S. market with extremely low prices.

    $2.19