The arguments for restricting trade Suppose there is a policy debate regarding the United States imposing trade restrictions on imported steel rods: Domestic producers of steel rods send a lobbyist to the U. S. government to request that the government impose trade restrictions on imports of steel rods. The lobbyist claims that the U. S. steel-rod industry is new and cannot currently compete with foreign firms. However, if trade restrictions were temporarily imposed on steel rods, the domestic steel-rod industry could mature and adjust and would eventually be able to compete in the world market. Which of the following justifications is the lobbyist using to argue for the trade restriction on steel rods?
A. Low foreign wages argument
B. Saving domestic jobs argument
C. Foreign export subsidies argument
D. Infant industry argument
E. National defense argument
Answers: 1
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The arguments for restricting trade Suppose there is a policy debate regarding the United States imp...
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