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International trade- tariffs...?INTERNATIONAL TRADE -TARIFFS Introduction A tax imposed on goods crossing the national border of a country is called customs duty. A schedule of such taxes on goods and services are called tariff. The existence of customs duty or tariffs can be found for hundreds of years. In those days main purpose of the tariff was to generate extra income for the government from traders. Tariff was levied from ports, markets, streets or even bridges. Tariff extracted on imports at the boundaries of the country has existed from the 17th century (Organization for Economic Co-operation and Development, pp-336). Such tariffs levied on the...
7 Pages(1750 words)Research Paper
US Steel Tariffs...Order No: 187868 Topic US Steel Tariffs Prepared by Dr. Zulfiquar Ahmed ID: 10131 01-11-2007 Order No: 187868 Topic: US steel tariffs Questions: 1. Critically evaluate the reasons put forward by the USA government as to why it imposed tariffs on steel imports in 2002 Can Protectionist measures ever be justified on economic grounds
The USA adopted safeguard measures for declining revenues and rising losses on imports of certain steel products on 5 March 2002, in the form of additional tariffs ranging from 8, 13, 15 and up to 30% for a 3-year period starting on 20 March 2002. Over half the steel mills have filed for bankruptcy. In 2001, US Steel lost $62 per every...
9 Pages(2250 words)Essay
Tariffs and Free Trade...); by playing an instrumental role in the several GATT tariff initiatives, including the Uruguay round (1986-93), which created the WTO; and by signing (1992) the North American Free Trade Agreement (NAFTA) with Canada and Mexico.
Tariffs as trade barriersTariffs are one of the reasons of trade barriers which in general term is any government policy or regulation that restricts international trade, the barriers can take many forms, which also include Import duties, Import licenses, Export licenses, Quotas, Subsidies and Non-tariff barriers to trade
Tariffs like most...
8 Pages(2000 words)Essay
Tariffs and Quotas...Teacher 20 November 2007 Similarities and Differences between Tariffs and Quotas Introduction The tariff and the quota are two major aspects of the modern economy and can be found in virtually every country in the world. A wide variety of tariffs have been imposed on many different goods and on many different trading routes for hundreds of years as a way for nations to make an income. The quota has been utilized possibly for an even longer time that the tariff so that nations, cities and any type of organized society might be able to easily create an economic budget. These two economic factors are closely related in how they benefit a nation, however their success in...
13 Pages(3250 words)Essay
Economic Implications of Tariffs...at an extremely low price that leads to losses by domestic firms (Mansfield and Yohe 23).
There have been a number of efforts to reduce tariff barriers between countries which have been supported through various organizations such as the WTO and Word Bank, which view tariffs as having a double impact; on the economy imposing the tariffs as well the economy on which the tariffs have been imposed (Geoffrey and Reny 2000 p 66). Tariff barriers slow economic growth. The local producers operate without competition leading to a rise in prices of their commodities, hence a decrease in the rate of consumption locally.
The...
1 Pages(250 words)Essay
Tariffs, Quotas and Non-Tariff Trade Barriers... tariffs, quotas and non-tariff trade barriers
To protect the agriculture and other infant home industries, stimulate import substitution, encourage foreign direct investment and due to other balance of payment reasons governments of home country impose certain trade barriers. According to Economy Watch, “Trade barriers aim to hike the prices of imported products in order to secure the domestic industry against fierce competition from foreign products.(“ Trade Barriers”)” Major trade barriers and their affects on international trade are given below.
Tariffs: -
“A tax...
2 Pages(500 words)Research Paper
Tariffs... the company will require trained personnel to run its operations. In this regard, the company need to train more employees and prepare a strategic plan to ensure the growth is streamlined.
Works Cited
Carbaugh, Robert J. "International Economics." International Trade (2006): 4-9.
export gov. Tariffs and Import Fees. 05 March 2015. 10 March 2015 .
Salvatore, Dominick. Introduction to International Economics. Hoboken, NJ: Wiley & Sons, 2005.
summer, Daniel A and Vincent H Smith. "Tariff and Non-Tariff Barriers to Trade." Tarriff (2002): 2-5.
USITC. " Harmonized Tariff Schedule of the United States(2014)." United States International Trade Commision (2014): 56-234.
WTO. World Trade Organization . 9 March 2015. 10 march 2015 .... as source...
3 Pages(750 words)Assignment
Two main barriers: tariffs and non-tariff barriers...International Trade al Affiliation) International Trade: Tariffs and Non-Tariff Barriers In the contemporary world, industries are expanding globally to venture into international markets. However, some countries place trade barriers to place restrictions to the extent in which foreign goods may enter the domestic market. For example, India adopted import-substitution ethos as early as 1950 in an effort to build the economy (Stern, 2009). It placed stringent trade restrictions that served a fundamental role in industrialization. Such trade restrictions may take the form of tariff or non-tariff...
1 Pages(250 words)Assignment
Pros and Cons of Tariffs...non-degradable products, foreign countries may find it easier to dump them to the state (Taussig, 2010). Other products such as cigarettes are harmful to the health of people. Consequently, the government has to impose heavy tariffs on such products to discourage their purchase and use in the country. Empirical and theoretical studies in the contexts of both environmental and eco-dumping races towards environmental protection support eco-tariffs (Taussig, 2010). They suggest that steps in the form of eco-tariffs may help in improving environmental welfare and quality since they discourage environmentally harmful production.
However, imposing high...
5 Pages(1250 words)Essay
Pros and Cons of Tariffs...Pros and Cons of Tariffs Pros and Cons of Tariffs Tariffs are customs taxes levied by a particular country on its imported goods, usually applied as a percentage of the total cost of the products (McEachern, 2015, pg.1). The result is the raising of prices of the import, and this gives advantage to the locally produced products. Tariffs also known as custom, import duties, or import fees are generally barriers to trade that are protect the locally produced goods and promoting domestic industries. In the end, this enables local industries to survive stiff competition, which foreign industries might offer in the local market if allowed to trade freely.
Functions of TariffsTariffs serve particular functions in a given country... . These...
7 Pages(1750 words)Essay