In recent years, what has been the general worldwide trend regarding tariffs on imports?

• A. Tariffs have generally decreased as countries pursue more free trade agreements.
• B. Tariffs have generally increased as countries adopt more protectionist policies.
• C. Tariffs have remained unchanged in most countries.
• D. Tariffs have been eliminated entirely in all major economies.

Answer: (A)

Verified step by step guidance

1. Understand the concept of tariffs: Tariffs are taxes imposed by a government on imported goods, which can affect the price and quantity of those goods in the domestic market.
2. Recognize the global trend in trade policies over recent decades: Many countries have engaged in negotiations to reduce trade barriers, including tariffs, through multilateral organizations like the World Trade Organization (WTO) and various free trade agreements (FTAs).
3. Analyze the impact of free trade agreements: FTAs typically aim to lower or eliminate tariffs between member countries to encourage trade and economic integration.
4. Consider the rise of protectionist policies: While some countries have adopted protectionist measures, the overall global trend has been a reduction in tariffs rather than an increase.
5. Conclude that the general worldwide trend has been a decrease in tariffs as countries pursue more free trade agreements, rather than tariffs remaining unchanged or being eliminated entirely.