Who bears the cost of import barriers protecting a job

Reference no: EM13245225

Who bears the cost of import barriers protecting a job where the industry employing labor has lost its comparative advantage? Consider the use of tariffs on steel imports into the U.S. during the recent Bush Administration.

Explain how international trade has altered the U. S. domestic manufacturing base. How has it made it more or less competitive?

In theoretical terms, explain the relation between globalization and poverty.

Discuss why a tariff on imports violates the principle of comparative advantage and makes winners out of losers and losers out of winners.

Reference no: EM13245225

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