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Surname 1 Student’s Name Instructor’s Name Course Title Date South Korea and United States Rice Trade Last 20 Years Introduction In many countries trading activities face several challenges when related to environment and development (“ Trading Activities Manual ”). Basically, this depends on the sector, markets, country, and prevailing policies. As such, trading activities may be either favourable or unfavourable in development and economy. To clearly understand the effects, this article will be focusing on the nature of rice trade prices, policies, and volume and composition in S. Korea and the U.S. Trade Issues Reported Over the last years, South Korea and the U.S have been struggling to curb emerging rice trade issues. Basically, one of the moves targeted by the countries was imposing stiff tariffs on rice trade. The tariffs were meant to deter buyers from engaging in overseas purchases so as to protect the rice markets (Manyin). Moreover, the tariffs marked a major psychological shift based on a political setting that could pave the way towards lowering the customs duty in the trade. Above that, the tariffs were set according to NAFTA and WTO (Manyin). Particularly, they were meant to maintain a parallel level of prices between the imported and local rice in the countries (Mark). To the contrary, many rice crop farmers in South Korea termed it as a disgrace
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