The arguments for restricting trade

Reference no: EM13700238

Suppose there is a policy debate regarding the United States’ imposing trade restrictions on imported steel rods:

The president of the United States explains that it is necessary to impose trade restrictions, such as a tariff, on the steel-rod industry to protect workers in the domestic steel-rod industry. The president claims that without trade protection, there will be layoffs, causing many U.S. workers in the steel-rod industry to be unemployed.

Which of the following justifications is the president using to argue for the trade restriction on steel rods?

A) Infant-industry argument

B) National-security argument

C) Using-protection-as-a-bargaining-chip argument

D) Unfair-competition argument

E) Jobs argument

Reference no: EM13700238

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