Do you think this is a good policy that is necessary to protect American workers or do you think tha Economics Monetary Theory/Policy

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Subjects -> Economics -> Monetary Theory/Policy -> Posting #102766

Economics, Monetary Theory/Policy

High School

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?

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?

By OTA: Sandeep Bardia, MBA

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