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    free trade

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    On occasion, the US government steps in and issues a tariff on a particular product or raw material being imported into the US. This in turn causes the price of that product to rise. They do this in the attempt to protect various industries in the US. For instance, if the US Steel industry is hurting, a tariff on imported steel may be levied in order to raise the price of that imported steel so that the US steel companies can compete on price.

    Do you think this is a good policy that is necessary to protect American workers or do you think that free trade is the answer and tariffs should be abolished?

    © BrainMass Inc. brainmass.com October 9, 2019, 6:56 pm ad1c9bdddf
    https://brainmass.com/economics/perfect-competition/free-trade-102766

    Solution Preview

    Tariffs have been imposed now and then by many countries in order to protect their domestic industries, especially the key industries such as steel in the above mentioned scenario, primarily due to the fact that domestic companies are not able to withstand the competition from overseas companies who ...

    Solution Summary

    Do you think this is a good policy that is necessary to protect American workers or do you think that free trade is the answer and tariffs should be abolished?

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