Heavy Tariffs on Foreign Goods Essay - 275 Words

Should the U.S. Government Impose Heavy Tariffs on Foreign Goods? (Essay Sample) Content: Name:Instructor:Class:Date:Should the U.S. Government Impose Heavy Tariffs on Foreign Goods?A tariff on foreign goods affects consumers, producers, demand and supply, and the global market in a positive or negative way to each concerned party. Placing heavy tariffs on imported goods has a number of significant outcomes that can be advantageous for certain parties while being a disadvantage to others. In any case, imposing heavy taxes on foreign goods in U.S is not a good idea to protect industry of the country.Imposing heavy taxes on foreign goods will discourage trade. Foreign governments and companies will avoid the burdensome taxes and hence they will not trade in the country. For the case of a few companies that manage to pay the taxes they will be compelled to lower their prices to compete with similar US products. They may decide to trade with other countries where there are minimal or no tariffs. Individual consumer choice is one of the greatest benefits of con sumers in international trade. When the government imposes heavy tariffs on foreign goods, reduced trade and increased prices prohibit consumers from many choices that could be present in the market. In the event that companies do not produce a similar product to the imported, consumers may not have a chance to purchase a product altogether because the foreign product was pushed out of the market with heavy tariffs.However, the movement may have its advantages in the country&rsquo...