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Laura Garcia
on Nov 05, 2024

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Over time, the general movement in the United States has been toward

A) higher tariffs and stricter import quotas.
B) managed trade.
C) relatively more free trade.
D) complete elimination of tariffs, import quotas, and export subsidies.

Free Trade

A policy wherein a government does not discriminate against imports or interfere with exports by applying tariffs (to imports) or subsidies (to exports).

Tariffs

Government levies on goods brought into the country.

Import Quotas

Import Quotas are government-imposed limits on the quantity or value of goods that can be imported into a country, typically used to protect domestic industries and control trade balances.

  • Understand the historical context and consequences of major trade laws and policies.
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Chrysanthus ThomasNov 06, 2024
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