While generally supportive of free trade, the newly elected government has indicated that it intends to protect key domestic industries by raising tariffs and a review of existing trade agreements.
Correct: B
The phrase 'by raising tariffs and...' requires parallelism for the two actions the government intends to take. 'Raising tariffs' is a gerund phrase. Therefore, the second action must also be a gerund phrase, or a phrase introduced by 'by' to maintain parallelism. The original sentence (A) breaks this parallelism by using a noun phrase, 'a review of existing trade agreements.' Option B correctly maintains parallelism by using 'by raising tariffs and by reviewing existing trade agreements.' The repetition of 'by' emphasizes that both actions are means to the same end and are parallel. Option C is grammatically awkward and verbose ('by the raising of tariffs'). Option D breaks the parallelism and conciseness with 'also reviewing.' Option E changes the structure to 'intend to raise tariffs and a review,' which also lacks parallelism.