Principle: A government should reduce taxes on imports if doing so would financially benefit many consumers in its domestic economy. There is a notable exception, however: it should never reduce import taxes if one or more of its domestic industries would be significantly harmed by the added competition. Conclusion: The government should not reduce taxes on textile imports. Which one of the following is a statement from which the conclusion can be properly drawn using the principle?
A: The domestic textile industry faces significant competition in many of its export markets.
B: Reducing taxes on textile imports would financially benefit some consumers in the domestic economy but would not benefit the domestic textile industry.
C: The added competition produced by any reduction of taxes on imports would significantly harm the domestic textile industry.
D: The domestic textile industry and consumers in the domestic economy would benefit less from reductions in taxes on textile imports than they would from other measures.
Choose A, B, C or D as your solution.
C