U.S. oil and gas producers have asked for tariffs to be placed on imported oil in an effort to boost the domestic oil industry, which is facing stiff competition from foreign oil producers. This is an example of

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emilybowers2606 emilybowers2606

10-02-2022
Business

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U.S. oil and gas producers have asked for tariffs to be placed on imported oil in an effort to boost the domestic oil industry, which is facing stiff competition from foreign oil producers. This is an example of

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anthougo anthougo · Answer 1 · 2022-02-14T13:47:18+01:00

The efforts of U.S. oil and gas producers to request the imposition of tariffs on imported oil in order to boost the domestic oil industry is an example of b. protectionism.

What is trade protectionism?

Trade protectionism is an economic policy that restricts imports from other oil producing countries by imposing tariffs on imported oil. Other methods of practicing trade protectionism are import quotas and other government regulations.

Answer Options:

a. free trade

b. protectionism

c. comparative advantage

d. global marketing

Thus, the efforts of the U.S. oil and gas producers is not an example of free trade, comparative advantage, or global marketing but protectionism.

Learn more about trade protectionism at https://brainly.com/question/1616157