Suffering from low-priced foreign competition

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Reference no: EM13898604

Consider the argument for restricting trade. PLEASE ANSWER QUESTION COMPLETELY!

a) Imagine that you are a lobbyist for timber, an established industry suffering from low-priced foreign competition, and you are trying to get Congress to pass trade restrictions. Which two or three of the five arguments do you think would be most persuasive to the average member of congress? Explain you reasoning and give references.

b) Assume you are an astute student of economics, although all the arguments for restricting trade have all their short comings, name the two or three arguments that seem to make the most economic sense to you. For each, describe the economic rationale for and against these arguments for trade restrictions. Please show references.

Reference no: EM13898604

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