Question

Select the statement that indicates retaliatory protectionism.

Answer 1

Answer:

Soon after, nation Y increased tariffs on imports of precious metals from country X.

Step-by-step explanation:

Retaliatory protectionism is when a country creates or increases tariffs on imports from other countries in order to protect and to boost the local production of that given product, since Country Y was importing precious metals from country X, as a response to the limitation on exportations that contry X set on country X they put the tariffs on precious metals, to support the local producers of precious metals.

Answer 2

Soon after, nation Y increased tariffs on imports of precious metals from country X.