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by Platinum Essays | Dec 9, 2019 | English

i want for each of these paragraphs one paraphrase . this is the first one A) I agree with the representative on the fact that tariffs would protect our industries. If cheap goods from other countries are allowed into the market then the young local companies are likely to go out of business and thus need protection by increasing tarrifs on imported goods.B) I do not think tarrifs will encourage people to buy local goods and products made in the US. What will encourage that is the quality of the goods produced locally. If the quality is good the people are going to prefer buying local goods than imported goods.C) By imposing tarrifs on imported goods the country will protect its young developing companies. This will eventually protect the jobs of the people working in the comapanies and their wages as well. When cheaper goods are allowed in people may be shift to buying cheap goods and the local companies may also decide export labour to where its cheap in order to make profit.D) To achieve a favourable balance of trade and balance of payment does not require imposing tarrifs on goods. It depends on the countries ability to identify partners whom they can trade favourably with. So that they import what they need from you and you import what you need from them. By reducing tarrifs on the bilateral trade the two countries benefit from each other.this is the second oneA) Tarrifs if imposed will protect the young industries in the U.S since these tarrifs will prevent the dumping of cheap substandard goods into the country. These cheap goods kill the young industries by offering cheap substitutes, thus making the young indust ies t have to lower their prices to match the competition.B) Encouraging consumers to buy US made products will also help build the economy. The only problem is if we do not allow external competition our industries may not be able to produce quality products. So even though buying US made products is patriotic but the local companies must also produce high quality goods to match the competition.C) When tarrifs are not put, the local companies will want to remain competitive when compared with their rivals from other countries. It is often the case that the rival companies may make more profit because of the cheap labour in their respective countries. Thus the US companies will also want to make profit by taking their manufacturing where the labour is cheap. This in effect reduces the jobs in the US or even makes the companies want to pay their employees less thus creating tarrifs will reduce that.D) As far as the balance of trade is concerned companies will continue to produce goods untill they loose comparative advantage. Therefore in my view I don’t think tarrifs will reduce the balance of trade and payments. These is reduced by careful choice of trade partners so that you find where the opportunity cost is greater.

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