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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 impor
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.
