The basic winners and losers from free trade, specific to import markets

1. Explain the basic winners and losers from free trade, specific to import markets:

What groups are likely to oppose foreign trade? Explain.
What groups are likely to support foreign trade? Explain.
What are the costs and benefits of foreign trade? Explain.
What are the arguments for trade protection and are they valid in your opinion (justify your answer).

1. What effect would a tariff on imported goods have on the different groups that you explained above? (i.e., are they hurt or helped)
2. Go to the Tax Foundation Trump Tariffs page (Links to an external site.) and briefly describe two of the tariffs imposed by the current administration.
3. Overall, how does the Tax Foundation predict tariffs will affect unemployment, income and economic growth?