Evaluate the argument: “Restricting imports from other nations will save U.S. jobs.”

What will be an ideal response?

The argument is a flawed one for several reasons. First, imports may eliminate some U.S. jobs, but they create others in those sectors that import products. Import restrictions change the composition of employment, but they have little effect on the total amount of employment. Second, there is a fallacy of composition with the argument. Restricting imports may help the U.S., but they make other nations that trade with the U.S. poorer and thus the actions will eventually hurt U.S. exports. Third, other nations can retaliate by imposing restrictions on imports from the U.S., thus causing a trade war that hurts all nations. Fourth, in the long run a nation must import to export. Domestic dollars spent on imports become income for foreign nations that they in turn can spend on U.S. exports.