Week 8 CheckPoint_International Trade Debate

Week 8 CheckPoint_International Trade Debate - Week 8...

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Week 8 CheckPoint: International Trade Debate A tariff is usually a tax that one country sets on the imported goods or services of other nations. Tariffs have a reputation of being troublesome, some say more tactics and not permitting a thing. However; there must be some kind of regulation on trade between countries. A quota is a trade restriction set by a country to maintain and secure a countries interest. This happens by limiting the amount of goods that a country can import into another country over a period of time. In the United States this was set up to protect interests economically but maintaining healthy trade relationships with other countries. Although these two particular trade tools were designed to guard the United States’ economic interests some feel they lead to corruption. Smugglers seek to evade tariffs and quotas; they also hope to escape high prices given to consumers. There is less
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This note was uploaded on 02/28/2012 for the course ECONOMICS XECO 212 taught by Professor Tsilis during the Spring '09 term at University of Phoenix.

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