Reasons for Government Subsidies The Hormone-free Beef Essay 2 Full pages- in-text citations and works cited on the third page. You are the President of th

Reasons for Government Subsidies The Hormone-free Beef Essay 2 Full pages- in-text citations and works cited on the third page. You are the President of the either a major hormone free Beef supplier in the United States. You are asking the federal government for money to subsidize your production to be more competitive in the EU. Using Chapter 6 and previous chapters but together 3-4 reasons the federal government should subsidize your organization.

Use some concept or theories in the textbook or Chapter 6 ppt
use outside research no wikis, and outside research involve the rate of countries GDP, risk, populations, and economic freedom.( You can put more in order to make the essay more reasonable)
provide specific proof and evidence: data…specific data to support your answers, must credits next to the data and proof ( as above explained)
must use APA citation as Paraphrases; use in-text citations please list page numbers or paragraph number
Use at least 4 resources

The overall essay should 360 degrees perspective to think about a question not only answer for it. Do not plagiarism!!!!!!!

Support materials:

Beef talks with EU/Hormone free

https://www.drovers.com/article/more-us-beef-could-be-destined-europe

Video today’s news-EU proposes talks to settles row with us over beef

https://www.youtube.com/watch?v=zyzVL50_6Uk&feature=youtu.be

Beef industry

http://www.beefusa.org/beefindustrystatistics.aspx

WTO and the Beef Dispute

https://www.wto.org/english/tratop_e/dispu_e/cases_e/ds26_e.htm

Low Cost Tires From China

https://www.ttnews.com/articles/imported-low-cost-tires-gain-market-share

Cost Of Tariffs On Tires

https://www.forbes.com/sites/kenrapoza/2012/01/25/obamas-half-truth-on-china-tire-tariffs/1#4bed5cbc3f26

A Review Of The Us Tariff Rate Quotas For Beef Imports

https://www.fas.usda.gov/data/review-us-tariff-rate-quotas-beef-imports

Textbook (click to download the E-BOOK)

https://drive.google.com/uc?id=1NU1o0YWchSL-o5EiAR2NfBo4vTXncyRA&export=download

Chapter 6 PPT, Please see the attached document. 6
CHAPTER SIX
POLITICAL ECONOMY
OF TRADE
Copyright © 2016 Pearson Education, Inc.
Chapter 6-1
Learning Objectives
1. Explain why governments sometimes intervene in trade.
2. Outline the instruments that governments use to promote trade.
3. Describe the instruments that governments use to restrict trade.
4. Summarize the main features of the global trading system.
Copyright © 2016 Pearson Education, Inc.
Chapter 6-2
Lord of the Movies
❑Time Warner (www.timewarner.com)
❑Television networks
❑Publishing
❑Film entertainment
❑A global leader in media and
entertainment
❑Must tread carefully as it expands its
reach
❑Big-budget Hollywood
productions
Copyright © 2016 Pearson Education, Inc.
Chapter 6-3
Why Do Governments Intervene in Trade?
Political
Motives
•
•
•
•
Protect Jobs
Preserve National Security
Respond To Unfair Trade
Gain Influence
Economic
Motives
• Protect Infant Industries
• Pursue Strategic Trade Policy
Cultural
Motives
• Achieve Cultural Objectives
• Protection of National Identity
Copyright © 2016 Pearson Education, Inc.
Chapter 6-4
Quick Study 1
1. Free trade is the pattern of imports and exports that occurs in the
what?
2. For what political reasons does a government intervene in trade?
3. What are some economic reasons why a government intervenes in
trade?
4. Some people see the products of what country as the greatest
threat to local cultures around the world?
Copyright © 2016 Pearson Education, Inc.
Chapter 6-5
Instruments of Trade Promotion
Trade Promotion
Subsidies
Export Financing
Foreign Trade Zones
Special Government Agencies
Copyright © 2016 Pearson Education, Inc.
Chapter 6-6
Quick Study 2
1. Financial assistance from a government to domestic producers is
called a what?
2. What are the hoped-for outcomes of a foreign trade zone?
3. What are some of the ways that governments provide export
financing?
Copyright © 2016 Pearson Education, Inc.
Chapter 6-7
Instruments of Trade Restriction
Trade Restriction
Tariffs
Quotas
Embargoes
Local Content Requirements
Administrative Delays
Currency controls
Copyright © 2016 Pearson Education, Inc.
Chapter 6-8
Instruments of Trade Restriction
Tariff-Quotas
Copyright © 2016 Pearson Education, Inc.
Chapter 6-9
Quick Study 3
1. Why might a government impose a tariff on a product?
2. Why might a government impose a quota on a product?
3. A stipulation that a portion of a product be sourced domestically is
called a what?
Copyright © 2016 Pearson Education, Inc.
Chapter 6-10
Global Trading System
World trade volume reached a peak in the late 1800s
Smoot–Hawley Act in 1930
General Agreement on Tariffs and Trade (GATT)
World Trade Organization (WTO)
Copyright © 2016 Pearson Education, Inc.
Chapter 6-11
Global Trading System
General Agreement on Tariffs and Trade (GATT)
❑The General Agreement on Tariffs and Trade (GATT): a treaty
designed to promote free trade by reducing both tariff and nontariff
barriers to international trade
❑Between 1947 and 1988: Highly Successful
❑ Reduce average tariffs from 40 percent to 5 percent
❑ Multiply the volume of international trade by a factor of 20
❑By the middle to late 1980s: Challenges
❑ Nontariff barriers
❑ Services not covered by the original GATT
Copyright © 2016 Pearson Education, Inc.
Chapter 6-12
General Agreement on Tariffs and Trade (GATT)
Round of Negotiations
Copyright © 2016 Pearson Education, Inc.
Chapter 6-13
General Agreement on Tariffs and Trade (GATT)
Uruguay Round of Negotiations
Uruguay Round
Agreement on Services
Agreement on Intellectual Property
Agreement on Agricultural Subsidies
Creation of the WTO
Copyright © 2016 Pearson Education, Inc.
Chapter 6-14
Global Trading System
World Trade Organization (WTO)
❑The World Trade Organization (WTO): the international
organization that regulates trade among nations
❑Main goals of the WTO (www.wto.org)
1. Help the free flow of trade
2. Help negotiate further opening of markets
3. Settle trade disputes among its members
❑The Principle of Nondiscrimination (Normal Trade Relations)
Copyright © 2016 Pearson Education, Inc.
Chapter 6-15
Global Trading System
World Trade Organization (WTO) (Cont.)
❑Dispute Settlement in the WTO
❑Dumping and the WTO
❑Subsidies and the WTO
❑Doha Round of Negotiations
❑WTO and the Environment
Copyright © 2016 Pearson Education, Inc.
Chapter 6-16
Quick Study 4
1. The first system of multilateral agreements to promote free trade
was called what?
2. What are the main goals of the World Trade Organization (WTO)?
3. Exporting a product at a price that is lower than that normally
charged domestically or one that is lower than production costs
can expose a firm to charges of what?
Copyright © 2016 Pearson Education, Inc.
Chapter 6-17
MAMOUN BENMAMOUN
ASSISTANT PROF OF INTERNATIONAL BUSINESS
BOEING INSTITUTE OF INTERNATIONAL BUSINESS
JOHN COOK SCHOOL OF BUSINESS
SAINT LOUIS UNIVERSITY
Copyright © 2016 Pearson Education, Inc.
Copyright © 2016 Pearson Education, Inc.
Chapter 6-19

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