Do you think tariffs should be used to protect domestic jobs? Why or why not? How...

Do you think tariffs should be used to protect domestic jobs? Why or why not?
How do you think it should be decided whether to impose tariffs to protect national security?

Expert Solution

It can be mentioned that tariffs should be used to protect domestic jobs at timesand this is because of the fact that if a country has an advantage in the production of certain goods then it will give to export the goods at very low prices with which the domestic industries will suffer as a result of which the people working in the domestic industries will be unemployed with the companies in the domestic industries eventually move out of the market as it could not stand the competition on the whole.

it should be decided whether it should be imposed or not by understanding the profit levels that the domestic industries are making without Tariffs in play and to what extent they can reduce the prices. Now it is very important to decide whether it will go on making losses with foreign competition so that they have to shut down or not and if the question is about shutting down the domestic industries with foreign competitors then it is the level at which you should actually impose tariffs.

Rahul Sunny answered 9 months ago

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