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Business, 16.04.2021 19:00 Najibddahir45

Suppose that the United States currently imports 1.0 million pairs of shoes from China at $20 each. With a 50 percent tariff, the consumer price in the United States is $30. The price of shoes in Mexico is $25. Suppose that as a result of USMCA, the United States imports 1.2 million pairs of shoes from Mexico and none from China. Required:
What are the gains and losses to U. S consumers, U. S producers, and U. S government and the world as a whole?

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