Mexico at the cost of 25 per pair and imports no shoes from

Reference no: EM13454178

Assume that Canada imports 1 million pairs of shoes from China and none from Mexico. A 50% tariff is added by Canada, so the price of the shoes in Canada is $30 per pair. As a result of NAFTA, Canada imports 1.2 million pairs of shoes from Mexico at a cost of $25 per pair and imports no shoes from China. What are the gains and losses to Canadian consumers, Canadian producers, the Canadian government and the whole world?

Reference no: EM13454178

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