A. Explainthe benefits of international trade.

B. Assessthe argumentsforandagainstencouraging countries to protect their economies from foreign competition by imposing restrictions on the imports of products from other countries.

Diagrams required.

References:

https://www.forbes.com/sites/waynewinegarden/2021/05/10/its-time-for-a-supply-side-resurgence/?sh=4f029de059e6

https://www.investopedia.com/articles/07/tax_cuts.asp

https://www.economicshelp.org/blog/2070/economics/cutting-government-spending/

https://www.focus-economics.com/blog/effects-of-trade-protectionism-on-economy

https://www.cbsd.org/cms/lib/PA01916442/Centricity/Domain/1864/Trade%20Regulations%20Overview.pdf