Create a greater competition for domestic companies

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Reference no: EM133292718

Assignment:

Class: International Business

Trade Barrier Question

A decrease in trade barriers normally creates greater competition for domestic companies especially domestic companies in industries with significant foreign competitors.

Consumers usually win because they get lower prices for many goods due to the increased competition.

Workers may lose jobs due to the foreign competition or labor may simply shift from domestic to foreign entities or from less competitive to more competitive industries.

The government will probably benefit through greater income from import duties and related tax revenues.

Can you identify any other winners or losers in this scenario?

Reference no: EM133292718

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