Question

A country decides to restrict international steel transactions within its borders to promote its own steel...

A country decides to restrict international steel transactions within its borders to promote its own steel companies. How does this affect global business?

A) It creates a trade surplus for the national economy

B) It reduces export opportunities for domestic steel companies

C) It imposes import restrictions on competing nations

D) It develops free trade policies with strategic partners

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Answer #1

Her ethe government of the importing nations imposes import restrictions so that domestic market can get a boost.

Hence the correct option is

C) It imposes import restrictions on competing nations.

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