Provide a discussion of the arguments for free trade between the US and UK, versus those for protectionism.
In 2021 U.S. President Biden dropped tariffs on imports of Scottish whisky. Read the extract ‘US suspends tariffs on single malt Scotch whisky’ below and, using appropriate demand and supply diagrams, consider the possible consequences of such a policy for US producers and consumers, and on the US government. In your answer use this analysis […]