Some politicians, labor unions, and special interest groups argue that US trade deficits are harmful to the
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Question:
Some politicians, labor unions, and special interest groups argue that US trade deficits are harmful to the economy and nations that run large trade surpluses with the US are benefiting from unfair trade practices and agreements. These parties support increasing tariffs on imports, elimination, or re-writing of trade agreements.
What kind of effects do tariffs, changing trade agreements, and/or manipulating exchange rates have on the trade balance?
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