Select the statement that indicates retaliatory protectionism.
country x is nation y’s b...
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Mathematics, 15.11.2019 22:31 paigehixson342
Select the statement that indicates retaliatory protectionism.
country x is nation y’s biggest importer. country x imports electronic items, automobile parts, and lcd televisions from nation y. nation y imports precious metals, minerals, and agricultural products from country x. in 2010, country x imported 20,000 lcd tvs from nation y. in 2013, country x began developing its own lcd tv manufacturing industry. that year, it asked nation y to limit its lcd tv exports to 120,000 tvs. the tv manufacturing industry in nation y suffered a setback, with revenue losses running into the billions. soon after, nation y increased tariffs on imports of precious metals from country x. precious metal exporters in country x protest the raised tariff, but nation y did not relent. to protect its precious metals industry, country x began negotiating deals with other countries.
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