U.S. citizens pay $3 billion more annually for shoes and Japanese citizens pay $6 billion more for rice than the actual cost of

Question

xxMikexx [17]

3 years ago

6

U.S. citizens pay $3 billion more annually for shoes and Japanese citizens pay $6 billion more for rice than the actual cost of

the products because

Business

1 answer:

mihalych1998 [28] · Answer 1 · 2023-01-20T03:14:35+03:00

U.S. citizens pay $5 billion more annually because both countries have imposed tariffs on imported goods to protect their domestic markets.

<h3>What is tariff?</h3>

A tariff simply means a tax imposed by a government of a country on imports or exports of goods.

In this case, U.S. citizens pay $3 billion more annually for shoes and Japanese citizens pay $6 billion more for rice than the actual cost of the products because both countries have imposed tariffs on imported goods to protect their domestic markets.

Learn more about tariffs on:

brainly.com/question/1076049