A labor union official was alleged to have made the following statement: "Foreign imports of textiles have cost American jobs and tax revenues. In order to slow down the disruptive impacts on American society, quotas should be placed on imports into the United States for those goods and products that are displacing significant percentages of U.S. production and employment."
Questions
1. Do you agree with the union official? Explain.
2. Do you believe import quotas should be established for certain industries? Which ones?
3. Does the United States benefit or lose from international trade?