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Analyze US trade regulation legislation from pre-1930 up to the current Doha Round of negotiations.
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- Can you answer this please? Explain the concept of a trade embargo and its effect on the country where the embargo has been placed.Discuss the economic rationales for Governments to intervene in international trade which would affect their country.Should the Trade Embargo on Cuba Be Lifted? Three years after Fidel Castro took power in Cuba and installed a Communist regime, the U.S. government initiated a trade embargo against the nation. The embargo was intended to put economic pressure on the Cuban government. Today the embargo is still in effect— one of the longest trade embargos in modern history. Opponents on each side of the issue debate its effectiveness. Who is right? As you read the selections, ask yourself: Should the trade embargo on Cuba be lifted or remain in place? PRO A HALF-CENTURY OF FAILURE For almost half a century, the U.S. government has tried to isolate Cuba economically in an effort to undermine the [Communist] regime [of Fidel Castro] and deprive it of resources. Since 1960, Americans have been barred from trading with, investing in, or traveling to Cuba. . . . As a foreign policy tool, the embargo actually enhances Castro’s standing by giving him a handy excuse for the failures of his…examine different trade policy instruments and critically assess their impacts on national and firm level economic performance.
- What was the original rationale for the U.S. economic embargo of Cuba, and what explains its continuation to the present day?Do you believe that international economic sanctions are effective ? Explain why.Of all the arguments for placing limitations on trade, which of the following would most likely be characterized as being the most controversial among economists? a) bank/financial sector regulation argument b) quantitative easing argument c) the infant industry argument d) floating currency argument
- Policymakers and economists have been trying to come up with the best policy mix to improve economic conditions in the United States following the large-scale recession. In class we've discussed the costs and benefits of international trade and concluded that in the long run, all who participate in free trade achieve gains. However, the short run costs are too large to ignore. Many policymakers have pushed for a more protectionist stance to help U.S. industries recover. Consider the following proposal: The U.S. will no longer import goods or services from other countries. It will instead focus on exports that employ American workers in domestic manufacturing plants. All products sold in the U.S. will bear the stamp “Made in the USA” on their label. Assess the pros and cons of this policy mix for the United States. Make sure to comment on the effect on GDP, inflation, and unemployment if the U.S. were to cut off international trade. Is this the best solution to get the U.S economy back…Policymakers and economists have been trying to come up with the best policy mix to improve economic conditions in the United States following the large-scale recession. In class we've discussed the costs and benefits of international trade and concluded that in the long run, all who participate in free trade achieve gains. However, the short run costs are too large to ignore. Many policymakers have pushed for a more protectionist stance to help U.S. industries recover. Consider the following proposal: The U.S. will no longer import goods or services from other countries. It will instead focus on exports that employ American workers in domestic manufacturing plants. All products sold in the U.S. will bear the stamp “Made in the USA” on their label. Discuss the different types of protectionist measures (tariffs, quotas, or ending trade) and their potential impacts on the United States’ reputation with the rest of the world. Is there a likelihood of a trade war? Did the Smoot-Hawley…In intentional trade negotiations, it is very common for a country's trade representative to threaten to enact protectionist policy that include: tariffs, quotas, quota-tariff, national security restrictions, and domestic content requirements. Define what each of these protection policies. Explain why quotas are usually the least creditable threat. If the trade represents a small importing country, would it make economic sense to threaten tariffs? Why or Why not?