Answer the following question in 400 words, with in text citation and 2 references
Conduct a web search seeking a current event related to a good that has an imposed tariff or quota placed on it. Discuss the relevance of the article to international trade. How does the flow of this item, product, or good, or lack thereof, specifically affect international business? Explain. Discuss how what you found is similar or different to how the tariff is on cocoa beans coming from Africa.© BrainMass Inc. brainmass.com October 2, 2020, 5:48 am ad1c9bdddf
For Instructional Purpose. Please Use any Good of Your Choice.
A tariff is a charge (tax) levied by government of a country on the importation of goods that are brought into its country from another nation. The tax could be as little as minute percent of the price of a specific good to 100% or more than 100% of the amount of a specific good. Eventually, the charge moves onward to consumers and results in high costs (Hill, 2015, p. 1). For example, in a current article, up to 70% tax is currently enforced by the U.S. International Trade Commission (ITC) on few Chinese photovoltaic (PV) panels manufactures (Mearian, 2015, p. 1). The article indicates that the PVs in question are immensely saturating the U.S. market and very less priced than PVs made in America. The relevance of the article to international trade is that the ...
Tariff on a good and its implications on international trade.