Please listen to the NPR Planet Money podcast below:

Worst. Tariffs. Ever.: Planet Money : NPR(https://www.npr.org/2020/11/11/933950483/worst-tariffs-ever-classic.)

After listening the podcast, please discuss the following:

1) What are the advantages and disadvantages of enacting tariffs on imported goods?

- Who benefits from tariffs?

- Who suffers from tariffs?

2) What if instead of importing goods we would produce everything in the U.S. and consume only U.S.-made goods and services?

- Identify advantages and disadvantages of this alternative.

3) What do you think is the best way of conducting international trade?