Trade and Tariffs

Incorporate the concepts of game theory to international trade and tariffs. Set up two payoff matrices. Set up the first payoff matrix such that the outcome will be harmful to both countries. Set up the second payoff matrix such that the outcome will be beneficial to the United States. From your perspective as a consumer, evaluate the two matrices using current actions by each country to see which most likely benefits domestic consumers.  Journal – 250 words in length No references or citations are necessary. Additional Details on the grading Response reflects indepth consideration and personalization of the theories, concepts, and/or strategies presented. Viewpoints and interpretations are insightful. Response demonstrates synthesis of ideas presented.

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