O-LevelEconomicsInternational trade and globalisation2281/12 · May/June 2023 · Q281 Mark
Country X exports steel to country Y at a price below its cost of production. This has led to a fall in demand for steel produced in country Y. What is a method of trade protection that country Y could use to reduce the imports of steel from country X?
Aapply anti-dumping tariffs
Bincrease interest rates
Crevalue the currency
Dsubsidise the export of steel
✓ Correct answer
A: apply anti-dumping tariffs
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