Argue for or against the U.S. enacting barriers to imports (such as tariffs and quotas). In...

Argue for or against the U.S. enacting barriers to imports (such as tariffs and quotas). In what situation(s) do you think barriers help to develop our national export power, and in what situation(s) do you think it harms our international trade relationships?

Provide at least one example from the Internet to support your argument.

Expert Solution

Argument in favor of USA enacting barriers to imports:
The barriers to import, will help the industries in the nascent stage to grow and become competent in some time to compete with the foreign players. These industries will get protection and employment to people will also be preserved when barriers to import are applied. People are bound to purchase the goods & services from these developing industries and the firms will grow stronger.
Argument against the USA enacting barriers to imports:
Giving protection to the industries bring complacency, higher price and poor quality of products and services. Further, higher expenses upon the goods produced by the protected industries, reduces the demand for other products produced by the other industries. So, jobs decrease in other industries in the name of protection to some industries. So, there is only a redistribution of job rather increase in jobs.
In following situations, barriers help to develop export power:
1.   When the products are of high quality, lower price and differentiated I the international market.
2.   Monopoly in the international market
3.   Top in the value chain where the other components follow it.
4.   Domestic industries grow at a faster pace
When the economies operate at the same level in the international market, and one government prohibits the entry of firms from other countries as import barrier, then other countries take the similar measure against the country and put trade restrictions against that country. International trade takes place on a mutual basis where import and export both are allowed as a part of a trade agreement.
For example, the case of demand of import duties upon some of the components, required to produce solar panel in the USA is considered as trade barrier that is threatening to the US solar panel industry.

Reference:

A protectionist trade ruling threatens America’s solar industry. Retrieved from: https://www.economist.com

Full web URL cannot be given due to the answering board guidelines.

Rahul Sunny answered 1 year ago

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Argue for or against the U.S. enacting barriers to imports (such as tariffs and quotas). In...

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