6. The United States has maintained a free trade policy since World War II. However, since the...
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6. The United States has maintained a free trade policy since World War II. However, since the election of President Trump, there is growing discourse that tariffs should be imposed to save American industries and jobs.
According to CNBC, in 2015, China was the United States’ largest import partner with $479.1 billion worth of goods being imported. The average rate of tariffs toward China was 3 percent. What do you think would be the effects of increasing the average tariff rate for China to 8 percent?
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