Week 4 - Week 4 Protectionism and the U.S Trade Policy...

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Introduction: After reading about the various arguments for free trade in the first part of the course, you might be tempted to believe that the United States has enacted free trade into law. This is incorrect. The United States restricts trade by various means. This week, you will analyze various arguments in support of protectionism. In addition, you will be introduced to the history and evolution of U.S. trade policy. U.S. trade policies enacted in the 1930s began an era of high protectionism and unreasonable tariffs. World trade suffered significantly, and the United States' already poor economic condition worsened. Much of today's tariff legislation is a direct result of what happened during that time. Therefore, this week you will learn about how U.S. trade policy takes place on three levels: the unilateral level, the regional level, and the multilateral level. You will examine the historical path of U.S. trade policy since 1934 on these three levels. Because the past continues to influence the future, there are benefits to understanding the history of an event. For example, consider an important life experience you have had. How has that experience influenced the decisions you make today? Learning Outcomes By the end of this week, you will be able to: Present and assess various arguments for restrictions on international trade. Develop an overview of contemporary U.S. trade policy, focusing on the period from 1934 to the
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This note was uploaded on 04/10/2011 for the course ECON 2001-1 taught by Professor Nickeyturner during the Spring '11 term at Walden University.

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Week 4 - Week 4 Protectionism and the U.S Trade Policy...

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