midterm notes - OPA(offshore assembly provision bonded...

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Sheet1 Page 1 OPA (offshore assembly provision) bonded warehouse = imports can be temporarily left there. it can be stored, repacked up to five years. but this is more costly. so therefore, we use FTZ (foreign trade zone) - eliminates restrictive surveillance. This increases intern (n-ab)/(1-a) = e domestic content requirements = attempt to stop outsourcing domestic vs. export subsidy sporadic dumping persistent dumping predatory dumping globalization: decreasing transaction, transportation costs, trade barriers, market determined exchange rates decreasing marginal cost happenes to significant economies of scale, like utilities. Tariffs - protect domestic producers, increase government revenue, alter trading patterns tariff act of 1789 In the early 19th and 20th century high tariffs due to WWI and Great depression. Reciprocal trade agreement act - president can negotiate tariff cuts. WTO was formed in uruguay round GATT Quotas, subsidies, VER, dumping Quota-rent = P star - P row
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