Which sector is likely to experience temporary job losses following a rapid transition from import tariffs to free trade?

Show Answers

Industries that compete with imported goodsSectors focused exclusively on exportsBusinesses serving both domestic and international marketsIndustries that do not engage in importing or exportingNone of the above

Explanation

When import tariffs are suddenly removed, industries that previously competed against imported products face increased foreign competition. This can lead to short-term unemployment in these import-competing sectors as they adjust to the new market conditions.