Suppose there is a policy debate regarding the United StatesAc €?c imposing trade restrictions on imported steel rods:

One argument in favor of the trade restrictions is that they will protect domestic jobs in the steel industry. Supporters of this policy point to the fact that steel rod imports have been increasing steadily over recent years, leading to job losses and decreased wages for domestic steel workers. By imposing a tariff on imported rods, supporters argue that domestic steel production would increase and help stabilize employment levels and wages.

Another argument against the trade restrictions is that it would lead to higher prices for consumers purchasing goods made with imported steel rods. Proponents of free-trade worry that restricting import access would do more harm than good as higher costs associated with using domestically produced rods could be passed along down to consumers in terms of increased prices for products like furniture or tools made from imported steel rods.