Tariff Dbq

Tariff Dbq
Tariffs were one of the primary issues debated by both major parties in the 1870s and 1880s. Before
the days of income tax, tariffs on imported goods filled the national treasury. The federal
government consistently carried a large surplus derived from these tariffs, and continuous
discussions ensued on how to spend the money. Tariffs also kept domestic prices artificially high.
The purchase price of imported goods included the added tariff. The same product made in this
country could be sold for a bit less and still be extremely profitable. The Republican Party advocated
the belief that the federal government should employ a high tariff to ensure that foreign competition
did not injure agriculture and industry. The Democrats, however, felt that the tariff was a
burdensome tax on consumers and supported tariffs for "revenue only," to ... Show more content on
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In 1873, the government passed the Coinage Act and put the U.S. on a gold standard, angering the
proponents of monetary silver. Those who backed silver argued that using silver would inflate the
money supply and mean more cash for everyone, which they equated with prosperity. The gold
advocates countered that silver would permanently depress the economy, but that sound money
produced by a gold standard would restore prosperity. "Free Silver" was demanded by William
Jennings Bryan who took over leadership of the Democratic Party in 1896, as well as the Populist
Party. The Republican Party nominated William McKinley on a platform supporting the gold
standard which was favored by financial interests on the East Coast. A faction of Republicans from
silver mining regions in the West known as the Silver Republicans endorsed Bryan. The McKinley
campaign, however, was effective at persuading voters that poor economic progress and
unemployment would be exacerbated by adoption of the Bryan
... Get more on HelpWriting.net ...

U.s. Imposes Tariffs On Chinese Solar Panels
This article discusses how the U.S. imposes tariffs on Chinese solar–panels due to the fact that
China was 'dumping' solar–panels to the U.S market, it also considers the possible impact of these
changes and attempts to assess the relative merits/drawbacks of the policy. Dumping is the selling of
goods and services on foreign markets below their cost of production[
http://study.com/academy/lesson/dumping–in–economics–definition–effects.html]. A tariff is
defined as taxation on imported goods.
Dumping of Chinese solar–panels on the U.S market
Chinese companies were 'selling products below the cost of manufacture also benefiting from unfair
subsidies from their government' this results the domestic quantity supply of solar–panels to
decrease as the price of domestic supplied solar–panels is higher than ones imported from China.
But U.S consumers are paying a lower price when solar–panels are exported to the U.S from China
and consumers get more variety of choices when buying. Even if America's solar market contained
no trade–barriers before this, the domestic quantity supplied would still decrease from Q2 to Q1
because most domestic solar companies cannot compete with the subsidized Chinese producers.
'Inexpensive Chinese solar–products pushed many American manufacturers out of business', causing
structural–unemployment in America and this will be difficult for the U.S government to deal with
because this will require retraining or other initiatives which can sometimes be

Pros And Cons Of Tariffs
Pros and Cons of Tariffs
Principles of Macroeconomics
Columbia Southern University
BBA–2401
Angelo Jones
Managing the how goods and services enter or leave this country (import/export) is an important
process that allows for us to control the economic status of our nation. Sometimes imposing tariffs
on the goods imported balances our labor cost, resources and government supported industry. A
tariff by definition is a tax or duty to be paid on a particular class of imports or exports.
Economic policy of nations and states, tariffs are tools used to control the flow of goods, services
and resources being brought into the country. The overall purpose is to create security for the
domestic industry from the imported product. These products can sometimes be less expensive to
purchase than the goods being manufactured in the local economy. (McEachern, 2015) The
government does this either stimulate or deflate trade with other countries. (Fontinelle, 2012)
There are quite a few forms of tariffs that the government may apply based on the condition of the
country's economic welfare. The pros and cons of these forms of tariffs will be reviewed. Discussion
on how these tariffs positively or negatively affects the economic stance of the country will be
displayed. Tariffs such as the ad valorem, the taxing a percentage of the value of an item and the
specific tariff or tax which is a set amount based on weight or sum of items. (McEachern, 2015)
The revenue tariff

The Pros And Cons Of Free Trade
Free trade is a capitalist concept that advocates for a seamless and free flow of goods and services
that is virtually unhindered by state–imposed restrictions or trade barriers. Over the years, the
American government has signed multiple agreements with governments across the world, to
encourage trade between the continental United States and other countries around the globe. Indeed,
bilateral agreements ranging from AGOA, NAFTA, and TPP have been signed by successive
Washington administrations, ostensibly to encourage Americans to reap financial benefits from
global trade. The open and free trade idea is anchored on the maxim that no country possesses all the
services and products that it needs, at any given time. Countries across the Americas fro instance
and by extension globally have seen a proliferation in the number of treaties and preferential trade
agreements by economies to boost trade. In this regard, some countries are well endowed with
extensive natural resources such as oil, gas, and gold, while others may lack them but still need to
use these resources.
Nevertheless, the sovereign is permitted under international trade laws to impose certain levels of
trade restrictions for valid reasons such as protecting its infant industries and taming dumping of
substandard goods. In this regard, the world is moving towards protectionism with scores of
countries imposing tariff and non–tariff barriers as well as the complete ban of certain class of goods
from overseas or

Nafta Tariff Barriers
In poster #1 you can see that with tariffs down means trade will increase. This is represented by the
words tariff and trade. The word tariff is written in red to signify a negative connotation, it also has
an arrow pointing down meaning that the tariffs are lowering. The word trade is in green for a
positive connotation and has an arrow pointing up to mean that trade is increasing because of the
lowered tariffs. An increase in trade is what stimulates countries benefitting off comparative
advantages. This increase in trade has had many benefits for all countries involved. With an increase
in trade the price of goods in America decreases, making it easier for low income households to
afford the products they need. Not only are the prices lower but with the rise in competition the
quality of the goods and services are increased as well. This is demonstrated in poster #2, which
says that low prices means happy consumers. The meaning of the poster is that because of lower
prices more consumers can lead happier lives. NAFTA is not only improving trade but quality of
life. ... Show more content on Helpwriting.net ...
Because of this trade between these neighboring countries has quadrupled in the last twenty years,
as shown in Poster #3. Having almost no barriers means more opportunity for comparative
advantages. A comparative advantage is when a certain country has a lower opportunity cost for
production of a certain good or service. An Opportunity cost is what is given up in order to use a
country's resources to do one thing instead of another. Which means the country can make more of
that good/service than other countries while using less resources. Therefore when a country has a
comparative advantage they should put more of their resources for production into that good or
service. This helps out all economies involved because using specialization will help have high
quality goods and services for lower

International Economics, Cause Trade Restrictions
1. Introduction to Trade Policy.
When trading in an international market, a company must understand the ways, countries can
interfere with trade. These trade barriers, according to Kishore Kulkarni's book on International
Economics, cause trade to "diverge from the comparative advantage pattern" (pg.266). David
Ricardo's comparative advantage "is an economic law that demonstrates the ways in which
protectionism is unnecessary in free trade" (pg.145). This section will provide an in–depth look at
the trade restriction known as a tariff.
Tariffs are a part of life for anyone attempting to trade internationally. This raises a question; why do
countries restrict trade in the first place? There are three legitimate reasons why tariffs might be
used. The first has to do with protecting a new industry; this is known as an infant industry.
According to Richard T. Froyen's book on Macroeconomics Theories and Policies, an infant
industry is "one that is too underdeveloped to achieve comparative advantage or perhaps even to
survive in the global environment" (pg.350). Such an industry may be small and "undercapitalized"
to survive without government intervention. This political intervention would be achieved through
tariffs, quotas, or subsidies. The next argument against free trade is known as the national defense
argument. In short, this argument would be applicable during a crisis; attempting to protect
important domestic industries, ensuring their products is well established.

Steel and Tariffs Essay
Steel and Tariffs
We have all heard this joke. Only now the horse has been replaced with consumers of steel in the US
steel industry. Why? Many companies in our economy that use steel as an input to produce their
goods are staggering due to recent extraordinarily high steel prices. President Bush dropped a tariff
on imported steel on Thursday March 4th; according to basic economics, this cancellation of the
steel import tariff should have dropped the price for US domestic consumers. Unfortunately though,
that hasn't happened. Steel prices are currently at record highs and many forecast even higher prices
to come. This puts huge pressure on small businesses that are dependent on steel for their well
being. With higher prices ... Show more content on Helpwriting.net ...
On one side protection for the employees of domestic steel producers sounds good. After all
shouldn't we support our fellow Americans and their employment needs? Indeed we should, but it is
hard to determine which costs the American public more jobs, the tariff or the lack there of. Plus,
which jobs are to be determined the most important, those of the steel workers, or those of the down
stream users of steel? It may be in America's best interest to protect our small business owners and
ourselves as the increased price from the tariff will most definitely be passed on to us, the consumer.
The Argument for Tariffs
Although tariffs usually cause domestic prices to increase they can have a positive effect on our
economy and specifically our domestic producers of steel and their employees. The US trade policy
has historically been protectionist in nature, and congress, the principle body of power for import
policy, heavily favored domestic firms over their foreign competitors (Irwin 146). As a result,
domestic steel producers have had tariffs and quotas in place for many years. An effective tariff
raises revenue for our US government and can help to subsidize domestic production at the expense
of foreign producers. This is good because the American government receives money from foreign
exporters that it would not have otherwise had access to. This money can then be used in domestic
government policies and could

Tariff and Non-Tariff Barriers
International Trade is the branch of economics concerned with the exchange of goods and services
with foreign countries. In the context of globalization, International trade has become an even more
important topic now that so many countries have begun to move from state–run to market–driven
economies. Tariff and non–tariff barriers play a large part in this process.
Tariff Barriers
Tariffs are among the oldest forms of government economic intervention. They are most commonly
used as taxes on imports into a country or region. They are put into practice for two clear economic
purposes. They provide revenue for the government and they improve economic returns to firms and
suppliers to domestic industries that face competition from foreign ... Show more content on
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Two common examples are quotas and counter trade, which even though they are considered non
tariff barriers, have the same effect as a tariff, but are only imposed in specific circumstances. Some
non–tariff trade barriers are explicitly permitted in very limited circumstances, when they are
deemed necessary to protect health, safety, or sanitation, or to protect natural resources.
Non–tariff barriers to trade can be:
* State subsidies, procurement, trading, and ownership.
* National regulations on health, safety, employment.
* Product classification.
* Quotas.
* Foreign Exchange: controls and multiplicity.
* Over elaborate or inadequate infrastructure.
* 'Buy national ' policy.
* Intellectual property laws (patents and copyrights).

* Bribery and corruption.
* Unfair customs procedures. (Wikipedia.com, 2005B)
Globalization
A critical shift is occurring in the world economy. The world is moving quickly away from a world
in which national economies are mostly reliant on goods from within their own country; stay
isolated from each other by barriers trade across national borders, and by national differences in
government regulation, culture, and business systems. It is moving toward a world where barriers to
trade across national borders are dropping, perceived distance is shrinking due to advances in
transportation and telecommunications technology, and national economies are

Tariffs : The Good And The Bad
Tariffs: The Good and the Bad
Sheri Ahrendt
Columbia Southern University
Tariffs: The Good and the Bad In an attempt to safeguard the economy from foreign competition,
the government of a country can implement a tax or fee known as a tariff. A tariff is a simple means
for governments to earn income. It is not the only way that a country can collect revenue on imports,
there are other regulations, subsidies, and quotas that have an impact on trade between countries, but
tariffs are the easiest to collect and have been in existence for hundreds of years. The amount of
tariffs that are levied vary tremendously between countries and commodities from free trade in
which there are no barriers in trade, up to protectionism where the government tries to protect its
economy from foreign competition. The tariff can be implemented by a specific tariff amount that is
charged for each single item that is imported, or as a percentage of the value of the item known as a
valorem tariff or both can be implemented simultaneously. A Harmonized Tariff Schedule is used in
the United States that lays out the tariff that is to be collected on each good or service that is
imported. (Suranovic, 2012, pp 11–12)
History of tariffs in the United States
The history of our country has seen the important role that tariffs have played in how our economy
has been established. Before we were our own nation and under British rule, England forced high
tariffs on the exports they accepted to protect their

American Cotton Industry
It is said that history may not repeat itself – but it does rhyme. This old adage bears special
importance as it pertains to America's history in trade policy. In both Charles Harley's, "International
Competitiveness of the Antebellum American Cotton Textile Industry," and Robert Feenstra's, "How
Costly is Protectionism?" we see this connection as the two authors analyze how protectionist
policies can be applied to certain situations and more importantly how these policies may transcend
across time. Given the Trump administration's current stance on protectionist policies in
international trade, it is critical to understand the lessons which history presents and apply them
accordingly. As President Trump attempts to move American trade policy ... Show more content on
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Feenstra talks about the implications of imposing trade deals or tariffs that could negatively affect a
partner and how that could alter relationships against the interest of America. Moreover, he
discusses the fact that increased isolationism from the free trade world could impede on the
development of countries who export goods to the United States as they attempt to grow and
stabilize their developing economies. Feenstra quotes a study from 2009 saying, "developing
countries lose $8 billion from the quotas and tariffs applied to textiles by the industrial countries"
increasing foreign deadweight loss, which again decreases overall world economy efficiency
(Feenstra 167). The American economy is greatly involved and vital to the world economy in this
21st century environment and the world economy, and especially developing nations, would be
greatly hindered by American retreatment from the world stage. The Antebellum strategy used for
the cotton industry in the 19th century is not applicable in today's globalized world and the
magnitude of the broader American economy is not in need of specialized assistance as it did when
it was a developing

Benefits Of A Tariff On Goods And Services That Are Imported
A Tariff in general is a comprehensive tax on goods and services that are imported. The main aim of
a tariff is to create security to the domestic product of a nation from the imported goods which are
cheaper and have a huge production capacity. Furthermore tariffs also aid in balancing the prices in
a country. This paper describes the roles tariffs play in a country and also pros and cons of tariffs.
There exist many different forms tariffs in which each is has its own specific operation. Some of the
most notable tariffs include the revenue tariff, prohibitive tariff and protective tariff.
The Revenue Tariff
This tariff is meant to create and accumulate huge amount of government finances. For example a
country that has little product. For it to keep the domestic income strong the government has to
install tariff on the goods which have been imported hence levying the prices. The government thus
creates a security cover for the product of certain import goods that are limited.
Prohibitive tariff
This tariff is normally used to diminish competition between the foreign and domestic producers.
Furthermore it is used to cease foreign imports present in its track. It works in a way similar to an
embargo placed on a specific given country.
Protective tariff
This type of tariff tends to inflate the prices that imported products have set thus creating a positive
price vacuum for locally based industries. Protective tariff highly taxes foreign imports hence
forcing a specific

Nike Tariffs
A government can set up any number of barriers including: tariffs, quotas, subsidies and standards.
Although most time Japan will be encouraging exports in areas where they do not particularly
specialize, it is up to the government to decide whether or not they will allow in exports.
Although there are many different types of trade barriers, the most common is a tariff. In effect
tariffs increase the price of imports, discourage their demand, and insulate domestic producers, to a
degree, from foreign competition. As a result, each country places higher tariffs on goods
determined to be import sensitive. This is precisely how Nike is affected when other countries
impose tariffs. So although Nike may end up paying a little more from time ... Show more content
on Helpwriting.net ...
Globalization is the process of interaction and integration among the people, companies, and
governments of different nations, a process driven by international trade and investment and aided
by information technology. Globalization is simply the interactions of different countries throughout
the world. International Trade as previously defined is the exchange of capital, goods, and services
across international borders or territories, which could involve the activities of the government and
individual. International Trade and Globalization go hand in hand. Both of these two are usually
very beneficial to businesses such as

Economic: Free Trade and Trade Liberalization Essay
2. Suppose that US market demand and supply for cloth are given, respectively, by the following
algebraic equations: P = 8 – ½Q and P = 2 + ¼Q (P is given in dollars and Q in tons).
a) Plot the demand and supply schedule for clothe and determine the equilibrium price and quantity
for cloth in the US in the absence of [international] trade.
P
0
1
2
3
4
5
6
7
8
QD
16
14
12
10
8
6
4
2
0
QS
––
––
0
4
8
12
16
20
24

b) If the US now allows free trade and P=$2.00 on the world market and we assume no
transportation costs, how much cloth will the US consume, produce and import with free trade?
When the price is 2, The cloth will be consumed 12 tons, and produced 0 ... Show more content on
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The evidence on this is clear. No country in recent decades has achieved economic success, in terms
of substantial increases in living standards for its people, without being open to the rest of the world.
In contrast, trade opening (along with opening to foreign direct investment) has been an important
element in the economic success of East Asia, where the average import tariff has fallen from 30
percent to 10 percent over the past 20 years.
Opening up their economies to the global economy has been essential in enabling many developing
countries to develop competitive advantages in the manufacture of certain products. In these
countries, defined by the World Bank as the "new globalizers," the number of people in absolute
poverty declined by over 120 million (14 percent) between 1993 and 1998.1
There is considerable evidence that more outward–oriented countries tend consistently to grow
faster than ones that are inward–looking.2 Indeed, one finding is that the benefits of trade
liberalization can exceed the costs by more than a factor of 10.3 Countries that have opened their
economies in recent years, including India, Vietnam, and Uganda, have experienced faster growth
and more poverty reduction.4 On average, those developing countries that lowered tariffs sharply in
the 1980s grew more quickly in the 1990s than those that did not.5
Freeing trade frequently benefits the poor

General Agreement on Tariffs and Trade and Rwanda
The General Agreement on Tariffs and Trade (GATT) 1947 functioned as a means of adjusting trade
relationships between countries trying to improve their economies. Contracting parties to this
agreement have been bound by it to treat other contracting parties on an equal and reciprocal basis
as well as to curb protectionism. At the start of 1995, the GATT has been succeeded by the World
Trade Organization (WTO) and has since been the most important development in international
trade. However, it is still essential to note that the GATT as amended is still the central piece of the
WTO law . A Dispute Settlement Body (DSB) has been set up under Article IV of WTO Agreement
and the Understanding on Rules and Procedures Governing the ... Show more content on
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This principle is set out in Article III (1) GATT 1994 where it states that contracting parties
recognize that internal taxes and other internal charges and laws, regulations which affects the
internal sale, offering for sale, purchase, transportation, distribution or use of products, and internal
quantitative regulations requiring the mixture, processing or use of products in specified amounts or
proportions, should not be applied to imported or domestic products so as to afford protection to
domestic production . Case referred to would be the Gasoline case . In this case, Rwanda may claim
that the act of Australia forbidding their exports of coffee and timber from entering the Australian
market is an act which breaches Article III GATT 1994. This is because this prohibition does not
amount to the treatment of the nationals and products of another country the same way it treats the
domestic nationals and products . In addition there is also a breach in Article III (1) GATT 1994 as
the Australian government has imposed laws and regulations on the coffee and timber of Rwanda
which subsequently affects the offering of sale as well as the distribution or use of those products .
Next, Rwanda could claim according to Article XI GATT 1994. It is stated that non–discrimination
among contracting parties is required in administering quantitative

Sugar Tariffs
A few weeks ago I was driving into work and I was listening to the radio, NPR news. A story caught
my ear, my economic sense started to tingly. It was a story on sugar subsidies and how that has
raised the price to consumer in the United States for a very long period. It delved into other types of
protection for domestic sectors but mainly focus on agriculture. Most consumers are probably
unaware that many of their commodities that they purchase in the grocery market are artificially
higher in price than they should be due to tariffs and other protectionist measures that the
government erects to "protect" domestic producers. The question is does this protect jobs and
industry for America? Are the consumers better off?
Why is this important? ... Show more content on Helpwriting.net ...
Why? This has to due to the political dynamic of few receiving benefit, domestic sugar producers,
while the cost is dispersed among the many, the US consumer. This explains the short term dynamic
but why has it been a consistent long term trend. The consumer has paying almost double or more
for as long as 1980's according to the chart and agriculture tariffs as long as the founding of this
country (Perry, 2012).
We can use Welfare Economics and Gains from Trade to conclusively state that we will be worse off
as a country due to sugar tariffs (Landsburg, 2009). In more detail the import restriction of sugar at
world prices assures that we will have a constriction of supply from the world market and unmet
demand from domestic consumers (Landsburg, 2009). The cost to us will be the dead weight loss
associated with the restriction of imports.
Here an example from Dr. Startmann's PowerPoint on this point, although not a perfect analogy, you
can see the effect that it has on both prices to consumer and loss of social welfare from the

Foreign Investment: The Elimination of Trade Barriers...
The ultimate objectives of AFTA are to increase ASEAN's competitive edge as a production base
geared for the world market and to liberalize trade in goods in the ASEAN region through the
elimination of intra–regional trade barriers on both tariff and non–tariff barriers for ASEAN
products. The elimination of trade barriers among Member States is expected to promote greater
economic efficiency, productivity and competitiveness, which should create a larger market in the
Southeast Asian region. Thus, investors will benefit from economies of scales productions, and
moreover, consumers in ASEAN Member States will enjoy lower–priced products. ASEAN expects
that AFTA will attract more foreign investment into the ASEAN region, and this investment will
stimulate the growth of supporting industries. The Agreement on the Common Effective Preferential
Tariff (CEPT) Scheme for the ASEAN Free Trade Area is the main implementing mechanism by
which the ASEAN Free Trade Area seeks to eliminate intra–regional tariffs and non–tariff barriers.
This chapter is divided into 2 sections. The first section will discuss the obligations of ASEAN
Members to eliminate tariff, quantitative restrictions and other non–tariff barriers. The second
section will examine exceptions of the obligation to implementation of the CEPT Scheme, which are
general exception and emergency measures.
I. Obligations to Implement the CEPT Scheme for AFTA
To create ASEAN Free Trade Area, Member States are obligated to

Renewable Energy Through Feed On Tariffs And Taxes
Introduction
In recent years, more has been debated on whether or not nonrenewable energy such as fossil fuel
has caused global warming. Sakamoto and Managi (2016) believe fossil fuel is the likely reason that
temperatures have been rising from greenhouse gases, increasing the CO2 emissions (p. 1). With
depleting resources, it may be a good idea to look more seriously at renewable energy (Sakamoto &
Managi, 2016, p. 16). More governments have been trying to create policies to encourage usage of
renewable energy. However, it has been debated what is the best way to enforce renewable energy.
In this paper, I will discuss two ways countries have been encouraging renewable energy through
feed–in tariffs and taxes.
Body
Sakamoto and ... Show more content on Helpwriting.net ...
14). An increase in marginal cost of nonrenewable resources will drive more consumers to
renewable resources.
On the other hand, a tax on nonrenewable energy does not have the same effect. Sakamoto and
Managi (2016) discovered:
"The introduction of the tax on the nonrenewable energy sector leads to the reduction of
nonrenewable energy use and an acceleration of renewable energy use, but the acceleration is not
enough to keep the pre–tax level of production... because the marginal cost of renewable energy is
high as renewable energy use increases" (p. 15).
A tax on nonrenewable energy leads to an increase in marginal cost of renewable energy. Less
consumers were interested in buying when prices on renewable energy rose.
Another way governments have been trying to implement renewable energy is through feed–in
tariffs. Feed–in tariffs usually consist of some type of purchase obligation and also a tariff payment
on renewable energy that is fixed for every unit of electricity (Jacobs, 2012, p. 43). The grid
operator involved in the purchase obligation must buy the renewable electricity no matter what
(Jacobs, 2012, p. 43). The producer has the right to a certain amount of money for every unit of
electricity that they produce (Jacobs, 2012, p. 43).
Jacobs (2012) conducted studies in Europe in the countries of Germany, Spain, and France that use
feed–in

Tariff In America
Tariffs have a great need to be fully increased across the board, first of all. If the tariffs were more
costly the money it will costs to outsource the services or products sold by companies will
eventually here in America to then start using more Americans to produce similar goods needed to
make the companies goods and services. I understand it's always better way to have any country use
their own locals to do the work in general to get things instead of getting out of the foreign
companies to make our electronics, shoes, clothes, toys, etc., and yes I can see how China & Mexico
are not the only countries that have the types companies that make cheaper products and use cheaper
parts some companies here in the states do too, ... Show more content on Helpwriting.net ...
The end result is that consumers pay more for the goods. With history we have seen many I don't
like the idea of jobs that leave our country, as I have lost a job before, because the medical tubing
machine could be ran cheaper in Mexico, where me and several co–workers (4) who ran it safely
here, the company we worked for leased the machine for 2 workers to run not so safely as we did it
here in the states, with all the rules we have to follow for safety. Without the tariffs we would
continue to lose jobs to other countries with cheaper labor cost. It is believed that it will continue to
add to the unemployment rate and increase the money lost from the U.S. economy and not coming
back. Tariffs have proven that they can keep the jobs in the U.S. and the money will stay too, which
will be spent on in stores, in local restaurants, housing, entertainment, groceries and other stuff. In
the past and at times some still think of tariffs as a bad word. Yes things here in America are better
by far taxes, the poor, (not so poor) middle class and all, than most other countries

Film4 Tariffs
Film4 looks for stories with a wide range of subject matters and budgets but are in favour of
contemporary pieces, usually non–period, that can, and usually are made by British–led talent. In
general they do not develop films for family audiences. Film4 does not operate on tariff prices but
rather aims to fund ten to twelve features films per year with a mix of licence fee and equity. Tariffs
are taxes imposed on imported goods. The reasons for these is to restrict trade increasing the price of
imports for costumers. Tariffs provide additional revenue for governments and domestic producers.
Film4 does not operate on tariff prices but rather aims to fund ten to twelve features films per year
with a mix of licence fee and equity. Tariffs

Disadvantages Of Subsidies
Question 1
a) Advantages of Subsidies
Reduces cost of production (Anon: 2014).
Recourses are released to be used for other resources, for example, expansion (increase in supply)
(Anon: 2014).
The firms' competitive edge in terms of prices increases. Subsidies enables firms to cover their costs
without making their products unaffordable (Anon: 2014).
Disadvantages of subsidies
It is expensive and will require higher taxes (Xayaan: 2013).
The extent of the positive externality is difficult to estimate (Xayaan: 2013).
Giving subsidies to firms may encourage inefficiency, because the firms might rely on government
aid. The government may also have poor information about the service and how much it has to
subsidise (Xayaan: 2013).
Subsidies distort market prices – for e.g. export subsidies distort the trade in goods and services and
can ... Show more content on Helpwriting.net ...
Tariffs imposed on foreign goods and services may harm domestic manufacturers in the long run
because it often benefit one sector at the expense of the other (Buchanan, R: 2013).
Import tariffs might reduce customer's choice in a sense that, when tariffs are placed on imported
goods, the increased prices and reduced trade prohibit individuals from all choices that could be
available in the market (Morelock, J: 2014).
c) Advantages of Globalisation
Globalisation increases Free Trade, the increase in capital liquidity allows investors in well
developed nations to invest in developing countries. Big corporations from developed countries
have great flexibility to operate in other countries (Anon: 2014).
Globalisation reduces war between well–developed countries (Anon: 2014).
Helps building stronger trade ties and dependencies between countries (Anon: 2010).
Adds contribution to the spread of technology (Anon: 2010).
Globalisation has enhanced communication. Socially, people have become more tolerant and open
towards one another (Anon:

The World Trade Organization And Its Predecessor The...
Over the course of its history, the World Trade Organization (and its predecessor the General
Agreement on Tariffs and Trade) has aimed to liberalise trade throughout the globe. While
accomplishing such a task is no easy matter, the WTO has managed to successfully implement a
number of agreements over the course of 67 years towards such a goal. Recently though, the WTO
seems to have stalled in producing successful agreements. The latest round of such agreements,
dubbed the Doha Development Round, has been in development for nearly 15 years now with little
to show for it. Why is it then that the WTO, an organization that has managed to successfully agree
on eight previous rounds, been stuck for so long?
The World Trade Organization largely accomplishes its agenda through "rounds": negotiation rounds
between all members that largely focus on specific agendas with the aim to create guidelines and
rules that promote global trade. Historically, the WTO (and the GATT) have seen eight rounds thus
far (nine if counting the current Doha round), with each producing an universally agreed–on
agreement. The first round of such, taking place in 1947, is what actually brought about the GATT
and focused largely on tariff controls. The subsequent four rounds, occurring in 1949, 1951, 1956,
and 1960, each also focused on tariffs controls. Such negotiations largely took place because of the
quickly–changing world playing field and as new members joined onto the GATT. It wasn't until the
mid

The Pros And Cons Of Protective Tariffs
First, one of the restrictions to free trade is tariff. According to Menlo–Atherton High School (2015),
a tax that is put on imported goods from abroad is known as tariff. Tariff is used to raise the price of
imported goods so that the domestic producers can sell their similar goods at higher prices.
Domestic government will be the one collecting the money that is received from tariff. Protective
tariffs and revenue tariffs are the types of tariff. Protective tariffs are put on imported goods so that it
will be more expensive. It is used to protect the domestic industries from the competition of foreign
firms. Revenue tariffs are used to raise money for government (Menlo–Atherton High School,
2015). The benefit of tariffs are uneven due to tariff is a tax. Besides that government is benefited,
domestic industries are benefit from it as well due to the reduction of competition from foreign
productions. It is because of the increased prices of the imported products. However, it is
unfortunate for the consumers because the higher price of goods is due to higher import price. Tariff
tends to bring advantages for government and producers but not to the ... Show more content on
Helpwriting.net ...
According to Menlo–Atherton High School (2015), a quota is a limit on the number of goods that
can be shipped in. A quota seems like a sensible alternative to a tariff when the intention is to restrict
foreign producers’' access to the domestic market. Importers typically are limited to a maximum
amount of products that they can sell in the home market over specific periods. A quota, similar to a
tariff, causes costs to increase in the home market. This induces domestic producers to increase
production and consumers to reduce consumption. One difference between a tariff and a quota is
that the tariff generates revenue for the government, while the quota generates a revenue gain to the
owner of import licenses. Consequently, foreign producers might capture some of this

The Tariff Laws
The tariff laws between the late 1828 and 1833 caused people like John C. Calhoun to realize that
states should have the right reject laws passed by the federal government. This law forced the South
to buy manufactured goods from U.S. manufacturers at a higher price. The southern states also
received a reduced income from raw materials they sold to Northern manufacturers. This affected
the Southern states economy and made many politicians angry, including Calhoun, the vice
president and a politician from South Carolina. Later he wrote a nullification doctrine to express his
opinions on the tariff. The nullification crisis greatly affected the growth of states' rights over federal
power. Because of the nullification crisis in South Carolina there were even thoughts of secession in
the early 1830's.
"The Nullification Crisis was a sectional crisis during the presidency of Andrew Jackson that arose
when the state of South Carolina attempted to nullify a federal law passed by the United States
Congress." South Carolina's attempt to counter the law was based on a constitutional theory stated
by John C. Calhoun, the vice president and a South Carolina politician. He believed that states had
the right to individually, or with other states, refuse to enact any federal law that has been ruled
unconstitutional by representatives of the state.
Kenyon 2
Calhoun believed that this right was guaranteed by the Constitution. The protective Tariff of 1828
was nicknamed "The Tariff

Advantages And Cons Of AFTA Or Asean Free Trade Area
In ASEAN we used AFTA or Asean Free Trade Area. It is a trade bloc agreement by Association of
Southeast Asia Nation. Under AFTA, there are six countries of Association of Southeast Asian
Nation (ASEAN) including Malaysia, Indonesia, Singapore, Philippines, Brunei, and Thailand are
no tariffs on approximately 8,000 product. Another four developed ASEAN nations will have further
period to phase in tariff cuts. In Asean we trade everything not only goods and services, but the
citizen also can go around these countries without visa and people can find job more easily. Because
when the country had opened for all members in ASEAN people can work in the proper ways not
work illegal in other ASEAN countries.
As a free trade area, members of ASEAN countries expect it to be more comfortable in the flow of
goods and services between ASEAN countries. Thailand had significant benefits from AFTA,
because in Thailand there are many manufacturing, and it is benefit from reduced the production.
However, the reduced tariffs have negatively impacted Thailand's agricultural sector due to a greater
number of imported agricultural goods. Before Thailand was the largest exporter of agricultural
sector, because Thailand has a lot of resources and the most of the ... Show more content on
Helpwriting.net ...
For example in Thailand, the automobile industry is one of the success thing. It has benefited from
being a single production base on parts from other Asean countries, which able to cross borders
without tariffs. Vietnam can be competitor with Thailand because Vietnam can produce rice in the
lower cost and rising the output than Thailand, which effect a lot on rice market in Thailand, loss
approximately $13 million to Vietnam. In both Malaysia and Indonesia their palm oil price was
expensive than Thailand. The loss of palm oil in Malaysia forecast at $46 million because Malaysia
is the world's largest in producing palm

The Pros And Cons Of Tariffs Essay
Presenting the Pros and Cons of Tariffs
An important part of managing the economic status of a nation is to manage the methods in which
goods and services are imported and exported into and out of the country. Because of differing
resources, labor costs, and government support of industry, fiscal policy sometimes includes placing
a tariff on imported goods in an attempt to level the economic playing field.
"Tariff" comes originally from the Arabic word ta'rifah meaning "to make known." In a more
contemporary setting 'tariff' is defined as "the schedule or system of duties so imposed."
("Dictionary.com," 2015, p. 1) This is often taken to be defined as a "tax that a national government
places on an imported or exported good or service to encourage or discourage trade."(Fontinelle,
2012, p. 1)
In modern economic policy of nations and states, the tariffs a tool to tax goods and services being
imported. The principal desired outcome for this tool is to create security for the domestic industry
from the imported product, which may be cheaper for consumers to purchase. (McEachern, 2015)
Tariffs exist in many different forms, and have various uses dependent on the economic situation
and outlook. They can be specific such as a set tax per item, or ad valoreum, with a percentage tax
per unit. (McEachern, 2015, p. 282) This paper will discuss function of each and the positive and
negative effects of the use of these various tools.
Tariffs come in many formats, a primary

Essay about General Agreement on Tariffs and Trade in...
General Agreement on Tariffs and Trade in E–Commerce
The US is seeking to extend the duty–free status of international online transactions to protect the
development of global electronic commerce, the Clinton administration said yesterday. Susan
Esserman, deputy US trade representative, said the US wanted the World Trade Organization to
agree "at the earliest possible date" to extend the current moratorium on customs duties for
electronic trade.
In testimony to the Senate foreign relations sub–committee on Europe, Ms Esserman said duty–free
cyberspace was particularly valuable to US software companies that were seeking to distribute their
products electronically.
The US is also looking for WTO members to affirm ... Show more content on Helpwriting.net ...
Although this tension is an old story, Zeiler takes it further and argues that the Commonwealth had
'a major hand in shaping the GATT order' (p.197). It is a complex story of negotiations taking place
under conditions of extreme difficulty, and the author has worked diligently in the American, British
and Commonwealth country archives.
There is, however, a lot that raises the eyebrows of the economic historian. Within a few lines of the
opening we read that, 'global business leaders ... seek a commercial regime unfettered by barriers'.
This is rather the antithesis of the conventional understanding of businessmen almost invariably
(and nowhere more so than in the US), seeking protection. And running against the conventional
view (without seemingly noticing) is the idea that America is the home and inspiration of free trade.
The British in the 1930s opted for, 'Regulated, rather than American style market, capitalism ... '
(p.20). Or again, 'Free trade frightened the British' (p.39). And richest of all, 'The British simply
would not accept the free trade doctrine' (p.24). Zeiler suggests that free trade was key to the
American economy ignoring the fact that America had been one of the most protectionist countries
for most of its history. This is unfortunate and results in a distortion of the argument, for of the
GATT negotiations Zeiler say s the British were not willing partners in pursuit of lower trade
barriers. At certain times that may have been true

The Negative Impact Of Tariffs In The US
Apple Incorporated, Microsoft, and other high–tech companies can benefit from tariffs being
completely wiped out. A tariff is a tax or a duty that is placed on an imported good or product that
the government imposes. It can be a negative impact that can affect both foreign and domestic
economies in a trade. Either way tariff was implemented because it has some good impacts. Impacts
creating some gains of revenue for the federal government and the economy. A few months ago the
Bloomberg Business reported, " that Negotiators agreed upon that it would be better to eliminate
tariffs on a variety amount of goods that are valued at more than $1 trillion of global commerce"
(Bloomberg Business, 2015). Eliminating tariffs can open more opportunities ... Show more content
on Helpwriting.net ...
according to the United States Trade Representatives office (USTR) (Bryce Baschuk, 2015). The list
of products that are free from tariffs, which the deal would boost as much as $190 billion dollars to
the global gross domestic product and support 60,000 U.S. jobs (Bryce Baschuk, 2015). With these
plans technology official are hoping the deal would take into affect late 2016 of July. Below is a
graph showing the economic effects of tariffs. Consumers are taking the impact because of an
imported good. The deadweight loss you see below is money from the tariffs that covers if not
enough buyers purchase the product like

Chile Tariffs
Tariffs in Chile
From 1930 through 1960 the Chilean economy was highly protected with import and export quotas,
import permits, tariffs, noninterest–bearing import deposits and multiple exchange rates imposed by
the government. The Central Bank negotiated, with each importer, which exchange rate to apply to
each transaction. Moreover, imports included only intermediate and capital goods and a few
essential consumer goods. Guidelines to approve products from other countries were followed and
several goods were prohibited for importation. Because of this situation, there were three attempts to
eliminate tariffs and all restrictions. By 1974, changes started taking place. Trade liberalization
allowed Chile to develop where they had a ... Show more content on Helpwriting.net ...
Also, Chile has a Trans–Pacific Agreement known as P–4 with New Zealand, Singapore and Brunei
Darussalam.
The Trans–Pacific Strategic Economic Partnership Agreement, also named P4 or TPP, is a trade
agreement between Chile, Brunei, New Zealand and Singapore signed in 2005 and has been in force
since 2006. It was designed to liberalize trade between the economies of the Asia–Pacific region.
However, since 2010 negotiations have taken place to expand the original trade union to incorporate
eight other countries including Mexico, USA, Canada and Australia. Chile's economy has benefit
from trading with countries in the TPP. In 2012, almost $16 billion of Chile's overall $79 billion
worth exports went to TPP countries. At the same time, Chile imported $25 billion in return. Since
2003, Chile's trade with TPP nations has grown by 16% each year.
Chile and USA entered into the U.S.–Chile Free Trade Agreements on January 1, 2004. This
agreement eliminates tariffs and open markets, reduces barriers for trade in services, provides
protection for intellectual property, ensures regulatory transparency, guarantees nondiscrimination in
the trade of digital products, commits both parties to maintain competition laws that prohibit
anticompetitive business conduct and requires effective labor and environmental enforcement.
Through duty elimination, the agreement allows U.S. textile and apparel exporters to

Persuasive Essay On Tariffs
"I think a lot of people are tired of watching other countries ripping off the United
States," comments Trump as he implements, "a 25 percent tariff on foreign steel and a 10 percent
tariff on foreign aluminum when the product comes across our borders." Trump believes that other
countries have been taking advantage of the US through the current free trade agreements. We are
America "the Great"; therefore, of course, we produce steel and aluminum in the cheapest and most
efficient way possible. We will save jobs by encouraging other sectors to purchase steel and
aluminum domestically. The tariffs will only hurt the other countries, not our own people. This
belief is a big joke. Yet, many people believe that getting rid of free trade is actually ... Show more
content on Helpwriting.net ...
What do the people who work in the factories want? They want to have their jobs protected, like
many working people do. Trump promised to help those workers. He promised to protect their jobs.
That is why he is proposing the tariffs. Yet, the tariffs are not actually beneficial for the workers. By
strongly encouraging Americans to use domestic steel and aluminum, the prices are being raised on
these products. All the products that have these two products as inputs are also having increased
prices. Why were factories buying these goods across the sea? China produces steel and aluminum
at a lower marginal cost, allowing them to sell the goods at a lower price and still maximize profit.
Therefore, China is the most efficient producer of these products. Instead of trying to inhibit
efficiency, Trump should be promoting efficiency. He could do so by encouraging the steel and
aluminum factories to discover new ways to produce their goods with a lower marginal cost. Also,
maybe American factories could specialize in another industry if China is the lowest cost producer
of steel and aluminum. But, these proposals are not being encouraged by Trump and his

American Tariffs
In the days of the American colonies, many colonists began to feel oppressed and began the idea of
separating themselves from the British Monarchy. Events such as the taxes and tariffs placed on
everyday items and the killing of innocent lives are all sparks in the ignition of the American
revolution. Perhaps the beginning of the separation of colonies to motherland was the creation of
unnecessary taxes placed on the colonists live in the thirteen British colonies. One of the earliest
taxes created was the original Sugar Act, created in 1733. Following the French and Indian War, the
British had acclimated a very large debt from spending so much money during the war that they had
to find new ways to heal their debt and bring in a larger ... Show more content on Helpwriting.net ...
On the night of April 18, 1775 british soldiers, also known as "Redcoats", stormed into Concord in
order to seize a weapons cache. That very same night more soldiers marched into Lexington to
capture the colonial rebel leaders, Samuel Adams Trevino 6 and John Hancock. Concord was the
sight of one of the largest patriot military supply stations in the colonies, John Warren received word
that the British soldiers were coming to seize this weapons cache and sent Paul revere to warn them
in order for them to have time to move the weapons and supplies out of the town. This was the night
of Paul Revere's famous four words, "The British are coming!" Though this story may have been
slightly fabricated, because Revere did not act alone in this. It is estimated that he actually was
accompanied by around 40 men while alerting town and while colonists at that time still considered
themselves British, it was more likely that he referred to the soldiers as "redcoats" or "regulars".
With the early warning signs, Samuel Adams and John Hancock were able to escape capture from
the British soldiers. That very next day on April 19, 1775 colonial militiamen gathered at Lexington
facing a much larger British force. At first

(2011, 02). Proton vs Perodua Case Study
From:
International Trade
Free, Fair and Open?
Access the complete publication at: http://dx.doi.org/10.1787/9789264060265–en Protectionism?
Tariffs and
Other Barriers to Trade
Please cite this chapter as:
Love, Patrick and Ralph Lattimore (2009), "Protectionism? Tariffs and Other Barriers to Trade", in
International Trade: Free, Fair and
Open?, OECD Publishing. http://dx.doi.org/10.1787/9789264060265–5–en This document and any
map included herein are without prejudice to the status of or sovereignty over any territory, to the
delimitation of international frontiers and boundaries and to the name of any territory, city or area.
4
Goods and services do not flow completely freely among countries, even among ... Show more
content on Helpwriting.net ...
This is particularly true for industrial goods, on which tariffs have fallen from around 40% at the
end of World War II to a tenth of that today. Nevertheless, tariffs continue to influence trade patterns.
By making products more expensive to consumers, tariffs hamper demand for imports. They also
alter the relative prices of products, and can protect uncompetitive companies and their overpriced
products. These distortions are particularly pronounced in many non–OECD countries where tariffs
remain substantially higher than in the OECD area.
Tariffs on agricultural products are on average much higher than those on industrial products,
although there is considerable diversity from country to country. Moreover, tariffs may be coupled
with quotas whereby a country sets a tariff of, say, 10% on the first 10 000 units of imported grain
(called the tariff rate quota, or TRQ) but increases it to 100% on any additional grain imports
(called the above quota tariff). One OECD study found that such tariffs on agriculture products were
equivalent, on average, to a straight tariff of 36% for OECD countries and 63% for selected non–
OECD countries, compared with agricultural tariffs of 15% in
OECD countries and 43% in non–OECD countries.
Even when tariffs have been reduced, the way they are structured continues to pose problems in both

agriculture and industry.
Problems exist

Tariffs on Imports
In simplest terms, a tariff is a tax. It adds to the cost of imported goods and is one of several trade
policies that a country can enact. Tariffs are often created to protect infant industries and developing
economies, but are also used by more advanced economies with developed industries. Here are five
of the top reasons tariffs are used: Protecting Domestic Employment The levying of tariffs is often
highly politicized. The possibility of increased competition from imported goods can threaten
domestic industries. These domestic companies may fire workers or shift production abroad to cut
costs, which means higher unemployment and a less happy electorate. The unemployment argument
often shifts to domestic industries complaining ... Show more content on Helpwriting.net ...
The 15% is a price increase on the value of the automobile, so a $10,000 vehicle now costs $11,500
to Japanese consumers. This price increase protects domestic producers from being undercut, but
also keeps prices artificially high for Japanese car shoppers. Non–tariff barriers to trade include:
Licenses A license is granted to a business by the government, and allows the business to import a
certain type of good into the country. For example, there could be a restriction on imported cheese,
and licenses would be granted to certain companies allowing them to act as importers. This creates a
restriction on competition, and increases prices faced by consumers. Import Quotas An import quota
is a restriction placed on the amount of a particular good that can be imported. This sort of barrier is
often associated with the issuance of licenses. For example, a country may place a quota on the
volume of imported citrus fruit that is allowed. Voluntary Export Restraints (VER) This type of trade
barrier is "voluntary" in that it is created by the exporting country rather than the importing one. A
voluntary export restraint is usually levied at the behest of the importing country, and could be
accompanied by a reciprocal VER. For example, Brazil could place a VER on the exportation of
sugar to Canada, based on a request by Canada. Canada could then place a VER on the exportation
of coal to Brazil. This increases the price of both coal and sugar, but protects the

The Pros And Cons Of Tariffs
United States of America, being one of the largest economies for importing steel, is imposing taxes
of around 256% on china. It is found out that china has been accused of dumping and therefore it is
selling its steel at a lower price. US is imposing taxes at other countries too, such as India, south
Korea and Italy. The domestic producers, are suffering because the imports have been rising, as
stated in the article "Imports of all steel products through October rose 3.9 percent in 2015", and the
quantity demanded of the domestic goods are reducing as the price levels are not matching, and
hence the tariffs are imposed.
Tariff is a form of trade protectionism, which is applied when there is free trade between the
countries, and the domestic consumption of good produced by the domestic producer is less. Hence,
Tariff basically is a tax levied on imported goods. The US govt is imposing tariffs on china and few
other customers in order to protect the domestic economy.
The below diagram shows the tariffs imposed on imports by the USA on various different countries.
... Show more content on Helpwriting.net ...
The domestic suppliers would benefit from the tariffs as the quantity demanded for them increased
from Q1 to Q2 in the domestic market and also the price has increased from Pw to Pw+t, which
would lead to an increase in the revenues. This will lead to an increase in production for them which
might lead on to economies of scale as the average cost of production reduces and hence the they
would get higher profits. While imposition of tariff for the foreign producers is bad as the imports
have reduced as the Q4–Q1 is greater that Q3–Q2, which are the imports after the imposition of
tariff. So the Quantity of import has reduced, and thus the revenues for the foreign producers would
reduce and therefore lead to fall in

Tariffs: International Trade and Tariff
How do government tariffs impact on imported goods? What are the pros and cons of these tariff
and what are the likely future trends.
Tariff is tax that a government collects on goods coming into a country. It is a tax which is levied on
imports across national boundaries or other geographical regions and exports in a few cases (Lv,
2000). Originally, applying tariffs was first based on financial purpose, so it is a regular but most
significant source of fiscal revenue to governments. Generally, a country with strong economy and
lying in an advantageous position tends to pursue a free trade policy. At that time, the principal
function of tariffs is tax collection. By contrast, a country with weak economy and lying in a
disadvantageous ... Show more content on Helpwriting.net ...
Hence, "the supply rise of the consumption good in the world market lowers the international price
of this good and then Foreign's firms reallocate resources to the investment sector"(Lee, 2011,
p.261). Additionally, Silvia (2011) has reconstructed historical data on tariffs and trade for 23
countries based on the relationship between tariff and trade growth to demonstrate that tariffs adjust
the national economic activities through tax rate. For example, governments use tariffs as tools to
balance supply and demand, for tariffs can change structure of imports and exports to settle market
prices.
However, the empirical analysis of the relationship between tariffs and economic growth has
generated mixed results. Disagreement persists among economists on how a country's tariffs'
policies affect its economic growth rate. There are several negatives of tariffs such as damaging
interests of consumers and increasing smuggling cases. In the first place, tariffs increase the price of
imports and reduce the price of export commodities. This makes consumer face challenge and
consumers' interests may be compromised by the increasing price caused by high tariffs. Tariff
opponents argue that the costs of tariffs cannot be ignored. These costs imposed has increased
because of high tariffs imposed and consumers are forced to either buy fewer goods or spend more
on

What Does Adam Smith Mean To Append Mercantilism?
Adam smith and the wealth of nations was a book that Adam Smith had wrote. Adam smith was the
man to append mercantilism. As I stated in my last essay I explained that mercantilism is economic
theory that trade generates wealth. Adam smith was one of the people that believed in this system.
Adam smith even wrote a book to upend mercantilism. Basically, nations would sell their gold and
goods without buying anything in return. Not many nations liked this and disagreed with the
mercantilism system. At this point the nations fell into circling of retaliatory tariffs that suffocated
international trade all around. What is a tariff anyways? A tariff is basically a tax. It adds to the cost
of imported goods in nations. A lot of times these tariffs are to protect infant industries, and also
used by more advanced economies. That is what a tariff is in simplest form of explanation. The
essence theory in Adams Smith's masterpiece was to give freedom to everyone to trade and
exchange goods as they please, Opening all markets to competition. This market force was
eventually called '' the invisible hand''. Smith believed that people had to ... Show more content on
Helpwriting.net ...
Adam explained that tariffs made it more expensive for the people, and also was bringing down
industries and trade too. The book that Adam Smith wrote '' The wealth of the nations'' was to mark
the birth of capitalism, and economics. Interesting isn't it? That someone can make history by using
common sense and intelligence to build nations from the bottom up. They also called Adam Smith ''
the father of capitalism'' he had such a huge impact on social society and economic growth that he
earned a name. Adam Smith believed we all had the freedom of expressions. Adam smith didn't
agree with the rich and felt the rich got more advantages than the poor. Adam Smith believed that
the people should be treated

Free Trade Protectionism Essay
quotas and regulations to restrict foreign trades and to discourage importation of certain goods into
the country in order to protect and promote domestic markets. Protectionism is often seen as a
hindrance to free trade because it isolates and hinders some foreign industries which are willing to
compete against domestic industries (Shah, 2010).
While Free trade can be described as when government put in place policies which allow overseas
companies to freely trade or sell their products in our country (Shah, 2010).
Free Trade Protectionism
a. It paves way for cooperation. It protects domestic industries and their workers by imposing tariffs
on competing foreign goods.
b. It encourages transparency and healthy competition It makes the production prices high and
leaves the consumers with less chance to makes choices in what they buy.
c. It opens markets for developing countries and reduces consumers' prices. It leads to jealousy and
ill will.
d. It lifts barriers to allow free flow of trade between two or more countries. Government uses
protectionist economic policies to restrict imports and exports.
e. It helps the economic growth of developing countries by increasing trade for the nation. It takes
many shapes and sometimes countries cry foul as they are made to suffer hardship which cannot be
proved.
(Olivia, 2011).
(Olivia, 2011).
Tariff: can be defined as the tax which the government imposes on imported goods and services to
make their prices high or expensive so as

Tariffs In American History
Tariffs in United States history have played important roles in trade policy, political debates and the
nation's economic history. A tariff is a tax on an imported good. Each unit of a good that is imported
into a country the tariff would increase. Tariffs had enormous affect on the Untied States, main
function or purpose of the tariff was to pay the federal budget. At one time tariffs were main source
of revenue until Federal income tax began in 1913. Originally this tariff was to help pay for
improvements, such as roads, canals, and lighthouses. Tariffs affected southern states negatively;
because the southern states weren't as dependent on manufacturing as the northern states causing the
south to not depend on tax from European imports.

Trade Protectionism : A Viable Alternative Solution
Trade protectionism is defined as "Policies that limit imports, usually with the goal of protecting
domestic producers in import–competing industries from foreign competition" (Krugman, Wells,
Graddy 538). Trade protectionism can appear to be a useful tool for governments to employ against
social problems such as unemployment, or to assist in overcoming the obstacles faced when
establishing a domestic industry. In the long term, however, trade protectionism will slow economic
growth and negatively impact the industries that the government is seeking to protect. This paper
will attempt to show how trade protection methods such as tariffs and import quotas can seem
beneficial initially but eventually cause long term economic harm, and will close by briefly
discussing free trade as a viable alternative to trade protectionism. A tariff is defined as a tax that is
levied on the sales of imported goods (Krugman, Wells, Graddy 538). A tariff increases the price
consumers pay for that good and the price domestic producers receive for that good. Tariffs directly
benefit the domestic government in extra tax revenue, as well as domestic producers as they can
increase prices to be competitive with the artificially increased prices of the foreign goods.
However, consumers are directly harmed by tariffs since they end up paying a higher price to
purchase goods. The imposition of tariffs on imported goods would appear to have the immediate
benefit of protecting a national

General Agreement on Tariffs and Trade
A. GATT Article III has been nullified and impaired. The WTO resolution panel will use the Japan–
Taxes on Alcoholic Beverages case's "like" products test and the tariff classification test to establish
the presence of nullification and impairment. The MF and Dabi are Members of the WTO and they
both must abide by the WTO Agreement. This Agreement gives WTO Members benefits in return
for their commitment to the Agreement. The MF is not complying with GATT Article III, Section 1
in that the MF is protecting their domestic beef products by regulating the importation of Dabi's beef
products without enough scientific evidence to support the negative effects of Xamil. Imported beef
products must be treated the same as domestic beef products. Dabi's and the MF's beef products are
like products due to identical end users and the beef's properties. Until more compelling scientific
studies are conducted to prove that Dabi's and the MF's beef products are not like products, the MF's
regulation of Dabi's beef products is inconsistent with Article III. In order to conduct the tariff
classification test, the WTO's Harmonized Tariff Schedule system must be used. B. GATT Article
XX (b) may be used by the MF to argue against Dabi's claims. The WTO resolution panel will use
the Thailand–Restrictions on Importation of Cigarettes case to test whether the ban on Dabi beef
products is "necessary" to protect human health. The case shows that the MF will not be successful
in invoking the GATT

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