Ch9outline - 17:07 GATT provides the framework fo most...

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Unformatted text preview: 17:07 GATT provides the framework fo most multilateral trade negotiations aimed at reducing trade barriers Introduction to Trade Regulations Trade barrier—any impediment to trade in goods or services Import trade barrier—any impediment, firest or indirect, to the entrance or sale of imported goods or services existing in the country of importation Reasons for Regulating Imports—economic and political reasons List on page 276 Import trade barriers can take many different forms and are usually classified as either tariff or non-tariff barriers Tariffs, Import Duties—tax levied on goods by the country of importation Usually computed either as a percentage of value (ad valorem tariffs) or on the basis of physical units (specific or flat tariffs) Non-tariff Barriers to Trade—any impediment to trade other than tariffs Direct non-tariff barriers—those barriers that specifically limit the import of goods or services, such as embargoes and quoteas Embargoes—either a complete ban or a ban on the sale or transfer of specific products or technology Most restrictive Quotas—quantitative restrictions on imports Global quotas—imposed by an importing nation on a particular product regardless of its country of origin Bilateral quotas—placed on a particular product on the basis of its country of origin Zero quota—complete ban on the import of a product that permits zero quantities to be imported Advantages and Disadvantages of quotas: P. 277 Auctioned quota—quota that is sold to the highest bidder Tariff-Rate quota—not really a quota, but a tariff that increases according to the quantity of goods imported Indirect non-tariff barriers—those that on their face seem neutral and non discriminatory against foreign-made products, but in actuality make it difficult or costly to import foreign-made goods Laws, administrative regulations, industrial or commercial practices, and even social and cultural forces that have the effect of limiting or discouraging the sale or purchase of foreign goods or services in a domestic market, regardless of whether they were intended to control imports Monetary and exchange controls on currencies—regulations or laws that limit the amount of foreign currency acailable to purchase foreign goods Government procurement policies—may encourage government agencies to buy goods and services primarily from domestic suppliers Technical barriers to trade00performance standards for products, product specifications, or product sagety or environmental engineering standards Japanese Large-Scale Retail Stores Law—protected retailers with stores as small as...
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This note was uploaded on 01/19/2012 for the course BLS 464 taught by Professor Humbauch during the Fall '11 term at Miami University.

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Ch9outline - 17:07 GATT provides the framework fo most...

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