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Merits and Weaknesses of Import Restrictions

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What is the infant industry argument for putting up barriers to imports? What are its merits and weaknesses?

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https://brainmass.com/economics/barriers-to-growth/merits-and-weaknesses-of-import-restrictions-466459

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Import barriers as an economic policy may stunt or wean infant industries. Here are the pros and cons:

Merits

- Import barriers like tariff helped raised significant revenue

- Import barriers help wean infant industries

- Increasing import tariffs to as high as the World Trade Organization (WTO) would allow intends to protect domestic production, (ABS-CBN, 2009).

- The growth of tariff barriers helped countries like the EEC, Asian Economies, and the US experienced strong growth (Greenwald and ...

Solution Summary

The solution exemplifies the merits and weaknesses of putting up barriers to imports vis-a-vis infant industries.

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Market Screening

Resources: http://www.mhhe.com/business/management/intlonline/ and Appendix A
? Visit http://www.mhhe.com/business/management/intlonline/ to select a region and
country to review for your final project.
? Inform your instructor of the country and product you chose for the final project. (I was thinking region 4 put need help with product- your choice)
? Complete the market screening portion of your final project using the sources of
information that relate to your selected country found on the Business Around the World
Web site.
? Summarize your findings in a 200- to 300-word response.
? Address the following topics:
o Basic need potential
o Import restrictions
o Price controls
o Government and public attitude toward buying American products

Maximum of 300 words.

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