Answer to Question #16139 in Macroeconomics for Ashley
Why can’t the U.S. just minimize the amount of imports coming in from all other countries?
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.