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

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08-02-2022
Business

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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

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topeadeniran2 topeadeniran2 · Answer 1 · 2022-02-21T05:37:52-05:00

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

What is tariff?

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:

https://brainly.com/question/1076049

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What is tariff?

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