Question

When the united states imposes _____a(n) on foreign steel, any foreign producers that want to sell their steel in the u.s. have to pay an extra fee making it more expensive for them to sell their products.

Answer 1

When the united states impose tariffs on foreign steel, any foreign producers that want to sell their steel in the u.s. have to pay an extra fee making it more expensive for them to sell their products.

The country that can manufacture and sell the product cheaper than any other country, or the only country that can supply the product, has an absolute advantage. For example, the United States has an absolute edge in reusable spacecraft and other high-tech products.

When the United States imposes tariffs on foreign steel, all foreign producers who want to sell their steel in the United States must pay an additional fee, increasing the selling price of their products.

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