Import Duty
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Steeeve
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ECONOMICS
International Trade
Import Duty
Tariffs often spark trade wars that reshape global economic alliances
46 hours ago
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What is a primary trade-off when a country imposes high import duties?
Guaranteeing lower prices for consumers by limiting foreign competition
Protecting domestic industries but risking higher consumer prices and trade retaliation
Eliminating the need for any trade agreements with other countries
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