Question

As the new president of the United States, you are visiting a local supermarket on a tour. You notice that the cost of bananas is extremely high. One of your advisers explains to you that the US imports over 99 percent of its bananas each year because bananas grow better in other countries. The adviser tells you that the US has quotas and tariffs on banana imports from other countries. What steps could you take to lower the prices of bananas so that they are more affordable? Describe two changes you would make to trade agreements, quotas, and tariffs.

Answer 1

Answer:

If it is for the country whose representative is myself, I would reduce the tariff barriers and custom duties in order to safeguard the interests of working class. And even there would be made quotas and treaties in order to make everyone avail the benefits of this and liberalized imports of bananas in our country.

Explanation:

Answer 2

Answer:

The president could encourage congress and the US government to lower quotas on banana imports. This may allow the US to import more bananas each year, increasing the variety and selection offered to consumers. The president could also pursue lower tariffs on banana imports. This would also encourage the US to import more bananas. Finally, the president could pursue new trade agreements with other countries. These agreements could lower restrictions and trade barriers that might make trade more costly. By encouraging steps to increase the supply of bananas imported from other countries, the president might be able to help prices drop.

Explanation: