Suppose That the United States Eliminates Its Tariff on Steel

Multiple Choice

Suppose that the United States eliminates its tariff on steel imports, permitting foreign-produced steel to enter the U.S.market.Steel prices to U.S.consumers would be expected to

A) increase, and the foreign demand for U.S. exports would increase.
B) decrease, and the foreign demand for U.S. exports would increase.
C) increase, and the foreign demand for U.S. exports would decrease.
D) decrease, and the foreign demand for U.S. exports would decrease.