Explain how the removal of tariffs will change

Reference no: EM13695447

Before 1995, the United States imposed tariffs on goods imported from Mexico. In 1995, Mexico joined NAFTA. U.S. tariffs on imports from Mexico and Mexican tariffs on imports from the United States are gradually being removed. Explain how the removal of tariffs will change:

a. The price that U.S. consumers pay for goods imported from Mexico.

b. The quantity of U.S. imports from Mexico.

c. The quantity of U.S. exports to Mexico.

d. The U.S. government's tariff revenue from trade with Mexico.

Reference no: EM13695447

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