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Answer on Macroeconomics Question for Ashley

Question #16139
Why can’t the U.S. just minimize the amount of imports coming in from all other countries?
Expert's answer

Answer

U.S.A. can't minimize the amount of imports from all other countries
because:
- Prices would increase and standard of living would fall
even further.
- In order to do that, the US needs to cut down regulations
and taxes to become more competitive on global trade. The regulation imposed on
manufacturers are too costly to comply therefore, makes better financial sense
at the moment to purchase goods from china.
- U.S. is a free country still,
at the moment, and many people would object to a government intruding more than
it already does on people's simple human freedom of choice.

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