•The strength of the dollar on domestic and global economies •Benefits from tariffs or quotas
•Losses from tariffs or quotas
I think that it is very important that trading with other countries is limited. With the economy that we are currently in, many people stand to benefit from their products being bought and sold locally. On the other hand, there are some products that can be produced here, but not in a high enough quantity to meet the demands for those products. This is where trade comes in. By putting high tariffs and quotas on products being traded, they can better control the number of products coming and going. We have to make sure that we are not buying more from other countries and doing less for the people supplying these products locally. One of the main benefits, in my opinion, of tariffs is the money that they help bring into the country. Not only are we helping the economy by the sale of the products, but also by allowing these other countries to bring in their goods. On the other hand, the country could stand to lose profits from trade if the tariffs assigned are too high. The sad thing is many other countries are suffering from the same problems that we are. The economy all around just seems to be horrible. So, if we charge high tariffs for trade here, these countries would benefit to trade the same products with another country that did not have those high tariffs. The more stable our economy is, the more stable the value of the United States dollar is. I have heard people ask before if we can print our own money, then why are we currently in debt. The answer is simple: if we print more money to make up for the debt, then our money would become less valuable.