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Let’s look at TRADE!!!!!! Why do we trade? Is trade good  or bad  ?

Let’s look at TRADE!!!!!! Why do we trade? Is trade good  or bad  ?. Clothing Exports. Clothing Imports. So who benefits from trade? Who gets hurt by trade? Do we care if people are hurt? What are we supposed to do about it?. Trade Barriers. Tariff. Tax on imports. Quota.

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Let’s look at TRADE!!!!!! Why do we trade? Is trade good  or bad  ?

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  1. Let’s look at TRADE!!!!!! • Why do we trade? Is trade goodor bad ?

  2. Clothing Exports

  3. Clothing Imports

  4. So who benefits from trade? • Who gets hurt by trade? • Do we care if people are hurt? • What are we supposed to do about it?

  5. Trade Barriers

  6. Tariff • Tax on imports

  7. Quota • Value based or physical limit on how much can be imported • Illegal goods have a zero import quota • In the US in 1996, milk, cream, brooms, ethyl alcohol, anchovies, tuna, olives and durum wheat were subject to tariff-rate quotas. Other quotas exist on peanuts, cotton, sugar and syrup.

  8. Embargo • Ban on all or nearly all trade • Used to influence political actions

  9. Standard • Regulations on testing, quality, classification, labeling of imported goods and services

  10. Subsidy • Financial assistance to a company or industry by the government • Used to help keep them competitive

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