suppose leather riding boots cost only 25% of what they cost in the u.s. however, the obama administration, in an attempt to protect domestic producers of leather products, imposes a 400% import tariff on leather riding boots from canada. what is the result? multiple choice question. ppp does not hold due to non-tradables. ppp holds due to transaction costs. ppp holds due to trade restrictions. ppp does not hold due to trade restrictions.