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FORMULATION OF INTERNATIONAL POLICIES (INDUSTRY LEVEL-ARGUMENTS (National…
FORMULATION OF INTERNATIONAL POLICIES
INFLUENCE FROM GOVERNMENT
Active intervention
Fair Trade
Minimal intervention
Free Trade
INDUSTRY LEVEL-ARGUMENTS
National Defense
Self-sufficient in raw materials
Appeals to general public
Infant Industry
Imposition of tariffs to get protection from foreign competition.
Powerful economic development strategy.
Maintenance of existing jobs
High-Wage countries threatened by imports from
Low-Wage countries
Assistance
Tariffs
Quotas
Strategic Trade Theory
Adopting trade policies to improve
Competitiveness in oligopolistic industries
POLICIES
Economic Development Programs
Strategies
Import substitution
Export promotion
Industrial Policy
Key domestic industries protected
Public Choice Analysis
Consumers versus special interest groups
BARRIERS
Quantitative Restrictions
Numerical limit on the quantity of an imported or exported good
Nontariff Barriers
Government laws, regulations, policies, or procedures that impede international trade
Tariffs
A tax placed on an imported or exported good
PROMOTION OF INTERNATIONAL TRADE
Foreign Trade Zones
Export Financing Programs
Subsidies
OBJECTIVES OF UNFAIR TRADE PRACTICE LAWS
Trade occurs on the basis of comparative advantage
Protect consumers from predatory behavior
Promote global efficiency by encouraging production in those countries that can produce a good most efficiently
CONTROLLING UNFAIR TRADE PRACTICES
Countervailing Duties
Unfair business practices
Unfair pricing practices
Government subsidies
International Trade Administration
Antidumping Regulations; super 301