international political trade

• Tariffs - a tax levied on imports (or exports).
• Specific tariffs - are levied as a fixed charge for each unit of a good imported.
• Ad valorem tariffs - are levied as a proportion of the value of the imported good.
• Subsidies - a government payment to a domestic producer.
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  import Quota - a direct restriction on the quantity of some good that may be imported into a country
• Tariff Rate Quota - A common hybrid of a quota and a tariff, a lower tariff rate isapplied to imports within the quota than those over the quota
• Voluntary Export Restraints (VER) - a quota on trade imposed by the exporting country,typically at the request of the importing country's government.
• Local Content Requirements - a requirement that some specific fraction of a good beproduced domestically.
• Administrative Trade Policies - are bureaucratic rules designed to make it difficult forimports to enter a country.
• Dumping - is variously defined as selling goods in a foreign market at below their costsof production or as selling goods in a foreign market at below their "fair" market value.
• Antidumping Policies - are designed to punish foreign firms that engage in dumping
• 1. two Paths of Government InterventionPolitical Protecting Jobs and Industries National Security Retaliation Protecting Consumers Furthering Foreign Policy Objectives Protecting Human Rights Protecting the Environment
• Economic The Infant Industry Argument Strategic Trade Policy
• Development of the World Trading System

  FROM SMITH TO THE GREAT DEPRESSION1947-1979: GATT, TRADE LIBERALIZATION, AND ECONOMIC GROWTH1980-1993: PROTECTIONIST TRENDSTHE URUGUAY ROUND AND THE WORLD TRADE ORGANIZATIONWTO: EXPERIENCE TO DATE