Final answer:
Legal trade obstacles typically lead to higher consumer costs, trade disputes, and can disrupt global economic prosperity, despite intentions to protect domestic industries and establish fair trade practices.
Step-by-step explanation:
The end result of legal trade obstacles, such as tariffs, quotas, and other regulatory barriers, is often more costly goods and services for consumers, disruptions in supply chains, and potential retaliation from trade partners. Trade barriers may initially be put in place with intentions to protect domestic industries and maintain a balance of fair trading practices.
However, these barriers can result in trade disputes and economic inefficiencies, affecting global economic prosperity. For instance, lifting trade restrictions like the Multifiber Arrangement in 2005 resulted in decreased costs for consumers and differential benefits among countries.
Yet, addressing protectionism and its challenges, such as those posed by arguments for domestic safety and quality control, is crucial for a balanced approach to international trade, where economists often suggest embracing the gains from trade and managing the costs with other policy tools.
Your complete question is: The end result of legal trade obstacles is often higher costs to consumers. O political negotiations between the two countries, to smooth relations and reduce costs. lower taxes to citizens in the tariff-imposing country due to tariff revenues. limited trade, with the recipient of the trade obstacles withdrawing.