What are tariffs why were tariffs imposed by the u.s

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Reference no: EM133405108

Questions:

1. What are tariffs? Why were tariffs imposed by the U.S and China governments?

2. Are tariffs always good for the economy?

3. Who are the winners and who are the losers in the U.S- China tariff's war?

4. As a consumer of imported goods from China, are you the loser or the winner?

5. The tariff war resulted in higher cost obtaining by retailers imported goods. Should retailers pass the cost of tariffs on consumers? If you were the CEO of one of the retailers, would you do it or not?

6. The international trade has been heavily restricted by trade barriers as tariffs or quotas. Is the comparative advantage, according to which specialization and free trade lead to win-win situation wrong?

7. Do you think that free trade really leads to win-win situation (is it good for everyone)? Who benefits the most from the free trade?

Reference no: EM133405108

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