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Occupational Health and Safety, Canadian Edition

15th Edition
by David L. Goetsch, University of West Florida and Oskaloosa-Walton Eugene Ozon, Algonquin College
1035 Solutions 49 Chapters 1463 Studied ISBN: 0133450244 Computer Science 5 (1)

Chapters 38: DQ 10

10. How might protective tariffs reduce both the imports and the exports of the nation that levies tariffs? In what way do foreign firms that “dump” their products onto the U.S. market in effect provide bargains to American consumers? How might the import competition lead to quality improvements and cost reductions by American firms?


Step-By-Step Solution

10. How might protective tariffs reduce both the imports and the exports of the nation that levies tariffs? In what way do foreign firms that “dump” their products onto the U.S. market in effect provide bargains to American consumers? How might the import competition lead to quality improvements and cost reductions by American firms?

Answer: If a country imposes import tariffs other countries may follow with their own import tariffs. These foreign import tariffs will reduce the exports of the nation that originally imposed the import tariffs.

If foreign firms dump their products on the U.S. market they are in effect selling them for below cost. This provided the consumers in U.S. a bargain because they can purchase the goods a t below cost price. The fact that foreign firms will be losing 'money' by dumping makes it difficult to sustain this practice for long periods of time.

If domestic firms need to compete with imports this may lead to quality improvements in domestic goods to differentiate themselves from the imports and may result in cost reductions in the U.S. as firms try to compete on the cost side of the ledger (allows the firm to lower price).


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