are138hw2draft_w15 - ARE 138 HOMEWORK 2 Winter 2015 Due...

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ARE 138 HOMEWORK 2 Winter 2015 Due Friday, Feb. 20th, in class (you may want to make a copy to study for midterm) 1. Use the 2015 U.S. Harmonized Schedule of Tariffs to answer the following questions. It can be accessed at: Note that this edition just took effect this past week. The purpose of this question is to familiarize yourself with how to read and look up items within this schedule. a. U.S. tariff schedules list 3 types of tariff rates: (Column 1a) Normal trade relations rates, labeled "General"; (Column 1b) "Special" rates; (Column 2) rates for other trading partners. In the chapter titled General Notes, find and print out what the following abbreviations for "special" trading partners stand for: A (which includes A+ and A*), AU, CA, CL, CO, D, E, IL, JO, KR, MX, P (including P*), PA, OM, R, SG. Highlighting the relevant lines of a printout is okay, or write by hand. There is one page that lists them all, so they can be printed on a single sheet. There are other special categories in addition to these, but these include the main ones that pertain to the commodities we're studying. b. Explain briefly the difference between the A and A+ designation. What are the first 5 countries listed under the A designation? Of these 5, which are also included under the A+ designation? c. Explain the purpose of the A* category. For example, India is normally considered an A country. What are the first 2 commodities mentioned for India under the A* heading on page 15 of the general chapter? (look up their numbers to see what types of product they are) Why do you think these particular goods are given this different treatment? d. What are the first 5 countries listed under the African Growth and Opportunity Act?
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