Which country would benefit more from a free-trade agreement

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The United States claims that Canada subsidizes the production of softwood lumber and that imports of Canadian lumber damage the interests of U.S. producers. The United States has imposed a tariff on Canadian imports to counter the subsidy. Canada is thinking of retaliating by refusing to export water to California. Table 1 shows a payoff matrix for the game that the United States and Canada are playing.

Is this game like a prisoners' dilemma or different in some crucial way? Explain. Which country would benefit more from a free-trade agreement?

Reference no: EM131297785

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