The U.S.economy would gain from the elimination of tariffs and quotas even if other countries do not reduce their tariffs and quotas.

Question

Quizplus · Accepted Answer

The elimination of tariffs and quotas would reduce the cost of imports for U.S. businesses and consumers, increasing their purchasing power and stimulating domestic economic activity. This would result in increased production, job creation, and economic growth, even if other countries do not reciprocate by reducing their own tariff and quota barriers.

The USEconomy Would Gain from the Elimination of Tariffs and Quotas