This is not a writing assignment, this is a multiple-choice question
Tariffs are taxes on imported items. The impact of tariffs can be variable. Which of the below statements is most likely to be INCORRECT for tariffs?
Group of answer choices
The government may gain temporarily from the taxes collected through the tariffs on imports.
The burden of the tariff is invariably borne by foreign imports.
Tariffs can lead to retaliation, and eventually, trade wars.
Tariffs drive up the cost of imported resources and consumer goods and thus end up hurting both domestic producers and consumers.
Tariffs help producers threatened by foreign competition and may keep such businesses alive, no matter how inefficient they may be.
Step by step
Solved in 2 steps
