Question

Would you put tariffs on foreign products being sold in your imaginary country? Explain why or why not and explain who would benefit from your choice and why. Your response should be a full paragraph (6-8 sentences).

Answer 1

I would very much Have tariffs! Tariffs put taxes on foreign goods/products that are imported into your country. Some countries put Tariffs on other nations products so that they have to pay in order to sell in their nation!

The government of a developing economy will levy tariffs on imported goods from other regions/nations/countries in industries in which it wants to strengthen growth. This increases the prices of imported goods and creates a domestic market for domestically created goods while protecting those industries from being forced out by more competitive pricing.