Economics_Ch16

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Unformatted text preview: n tariffs and quotas, but U.S. consumers would also be hurt by U.S. tariffs and quotas on foreign goods. If the choice is between hurting producers and workers or hurting producers, workers, and consumers, it is better to hurt as few people as possible. Here’s what it comes down to: The best policy is for every country in the world to practice free trade. The second best policy is for the United States to practice free trade, even if no other country in the world practices it. The worst policy is for the United States to impose tariffs and quotas on foreign goods simply because other countries impose tariffs and quotas on our goods. Madison Golecke, Spring Valley High School Debate Team I nited States policy shouldn’t protect the interests only of consumers; it should protect the interests of consumers, producers, and workers. When other countries impose tariffs and quotas on U.S.produced goods, those countries hurt our producers and our workers. These countries should bear the economic consequences. There must be a price for such actions, or these countries will continue to make themselves better off at the expense of American producers and workers. The higher the price of imposing tariffs and quotas on U.S.-produced goods, the less likely foreign countries will do so. The way to ensure free trade is for the United States to give other countries a taste of their own medicine. If they practice free trade with us, then we should practice free trade with them. If they impose tariffs and quotas on our goods, we should do the same to their goods. U What Do You Think? 1. Should the United States practice free trade even if other countries do not? Explain your thinking. 2. Is the world moving toward or away from greater free trade? Give some examples from recent news stories to support your answer. Unit V Trade and Investment 459...
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This document was uploaded on 01/16/2014.

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