Reagan was against tariffs on imports the Democrats were for them. Who was right in light of today’s issues? ABC News story from 1985 with Peter Jennings………
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tariffs and protectionism
http://www.youtube.com/watch?v=dSQTbd2iJtY
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Also, a story about boys playing on a girl’s field hockey team .
Duration : 0:7:7
A tariff is a tax on imports and exports. But. what does this mean? How does it work? What does it mean if an import is taxed? What does it mean if an export is taxed?
If you place a tariff on imports, everytime someone brings a foreign good into the country, they need to pay a tax. Export is the reverse; people pay everytime they bring local products into foreign markets.
or will it alienate the US in current and future trade?
http://www.forbes.com/markets/feeds/afx/2007/03/29/afx3566441.html
http://www.nytimes.com/2007/03/31/business/31trade.html?ex=1332993600&en=7b3971ef38e3ec25&ei=5088&partner=rssnyt&emc=rss
it will lead to increased prices in the US, and retaliatory tariffs from China, reducing US exports and further increasing the deficit.
All of these examples are instances of trade barriers. They prevent the free flow of goods from one country to another. In each case there will be a welfare loss conditional on the change in price and quantity.
Suppose the United States decides to impose a tariff on all wood products coming into the nation.
1. Explain how the tariff will affect trade of wood products in the U.S. using supply and demand analysis.
2. Who are the winners and losers as a result of the tariff on wood products?
3. Explain one of the arguments for the imposition of the tariff on wood products.
4. Name two (2) negative costs that will result from the tariff.
Well they seems to be your homework so I’ll only help you with 3. This tariff could be used to protect against invasive insect species that come along with foreign wood products.
Americans love white chicken meat, while dark chicken meat is a major part of Indian cuisine. Chicken producers in the United States have exported dark meat to India at very low prices. In 2000, the Indian government accused U.S. chicken producers of pricing dark meet at prices below the cost of production and subsequently raised the tariff on imported chicken from 35% to 100% to protect its domestic producers, even at the expense of higher prices.
Which of the main arguments for restricting international trade did the Indian government use?
Indian government has always encouraged trade and has never restricted international trade in particular
Restricting a particular products by government have a protective reason and in your case Chicken business already have employed lacs of people and many region economy depends on it to a large extend.
Its just to protect the domestic industry.
Hi, guys, how could I find out my tariff code for particular product, I know I could find out from volume 2 in "the tariff" publication, but it is expensive to buy ( about few hundreds pounds) .
Do people usually phone the TCS(Tariff classication service) 01703 366077 to find out?
Or Do they apply for binding tariff information from TCS? Which one is most favourite way to you>
apply for binding tariff information from TC’S
and does this make any sense?
1. The U.S. has tried it in the past and it did more harm than good.
http://www.chinadaily.com.cn/en/home/2003-12/30/content_294645.htm
The results from the latest attempt are not likely to be better.
http://www.washingtonpost.com/wp-dyn/content/article/2009/09/11/AR2009091103957.html
2. Now that China is in the WTO, putting up quotas and tariffs again China just to reduce the trade deficit would be illegal and would engender retaliation.
http://www.nytimes.com/2009/09/14/business/global/14trade.html
This would not be a good thing.
http://www.cbsnews.com/stories/2009/09/13/business/main5307331.shtml
http://www.washingtonpost.com/wp-dyn/content/article/2009/09/20/AR2009092001299.html
So however attractive it might appear at first glance, no, it doesn’t make sense. A somewhat more intelligent approach is:
http://en.wikipedia.org/wiki/Import_Certificates
But better yet would be for China to free its currency. It is the "right" solution.
http://www.nytimes.com/2009/10/23/opinion/23krugman.html
but even so it wouldn’t completely solve the problem:
http://chovanec.wordpress.com/2009/11/15/exchange-rates-arent-the-problem-or-the-solution/
But China is in a real bind right now, and it is hard to imagine anything it could do that wouldn’t be extremely painful for it.
http://www.nytimes.com/2009/04/03/opinion/03krugman.html
For example, with wages in China rising, China is losing its advantage as a lost-cost country for manufacturing.
http://www.nytimes.com/2008/06/18/business/worldbusiness/18invest.html
Letting the yuan float and gain in value would make China even less competitive. With recession to recover from, the Chinese government doesn’t want to put still more Chinese out of work, even if its policies do hurt other countries.
FOX News, Sept 14, 2009