Question

What are some ways that governments can help people who lose from trade?

Short answer

By providing subsidies to the domestic industries, providing job training to workers to upskill them, retirement pension, etc.

Step-by-step solution

Step1. Introduction

The exchange of goods and services across borders of countries is known as international trade.

Step2. Explanation

Some of the ways in which the agents losing from trade can be helped have been mentioned below.

1. Providing subsidies to domestic producers to help them compete.
2. Training workers with advance skills and techniques to upskill them and provide better earning job opportunities.
3. Providing retirement pensions, old-age pensions, wage subsidies for older workers
4. A refundable health care tax credit.