Who gains and who loses from import restrictions

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Reference no: EM131160609

If it would be cheaper to give each steelworker $375,000 per year in cash rather than impose restrictions on steel imports, why do we have the import restrictions rather than the cash payments? Who gains and who loses from import restrictions? In answering, you should consider both consumers and producers in both the country that imposes the restrictions and the other countries affected by them.

Reference no: EM131160609

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