Purchase Solution

Trade Regulations & Industrial Policies: WTO

Not what you're looking for?

Ask Custom Question

Review the World Trade Report 2012 from the WTO on trade and public policies (the executive summary is available for review as well) at the WTO Research and Analysis webpage. As you go through this resource, think about what the significance of both tariff and non-tariff barriers to trade are in today's economy, and how they have affected international trading.

Address these specific issues (approximately 2 pages) , where you will also explain the importance of national and international trade policies, and the role and effect of the World Trade Organization (WTO) on such measures (for example, how does the WTO regulations balance legitimate national policy goals versus protectionism?). Use at least one country and one policy as an example in your paper to support your answers.

Purchase this Solution
Solution Summary

The response provides a structured explanation of the role of World Trade Organization in increasing free trade. It also gives you the relevant references.

Solution Preview

The significance of tariff and non-tariff barriers to trade in today's economy is that these protect infant industries and developing economies. In today's economy the truth is that advanced economies use these barriers with developing countries. For example Section 232 of the Trade Expansion Act of 1962 in the United States, industry can petition for restriction of imports from third world countries on the grounds of national security. In today's economy the significance of tariff and non tariff barriers is that these are increasingly being used for protecting domestic employment, shielding consumers from harmful products, protecting national security, or retaliating against trading partners.

National trade policy is the government's policy controlling foreign trade. It is a policy that governs international relations. For example, South Korea places tariffs on imported beef from certain countries if it ...

Solution provided by:
Hatim Baxamusa, MBA
Education
  • BSc , University of Calcutta
  • MBA, Eastern Institute for Integrated Learning in Management
Recent Feedback
  • "I read your comments, and thank you for this feedback. Do I need to find other studies that applied this methodology Ive used? That's where I'm stuck at."
  • "Thank you kindly sir. "
  • "Excellent and well explained. --Thank you kindly. "
  • "Awesome notes. I appreciate you."
  • "I have the follow-up project and I will assign that to you very soon. "
Purchase this Solution
Free BrainMass Quizzes
Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

View More Free Quizzes
Related BrainMass Solutions

  • Obstacles to Successful International Economic Policy

    Compel Sovereign states to change laws WTO is too powerful, in that it can in effect compel sovereign states to change laws and regulations by declaring these to be in violation of free trade rules.

  • World Trade Organization and International Trade

    To ensure that all countries are adhering to the rules and regulations established, the WTO monitors the agreements by requiring all governments make their policies transparent.

  • Importance to regulate imports

    Through eight round of talks various policies and regulations regarding trade barriers were formed to regulate trade barriers between the 117 signatory countries and to create more enforceable and comprehensive world trade rules.

  • Types and Regulators of Trade Barriers and

    The WTO has established a framework for trade policies based on non-discrimination, reciprocity, binding and enforceable commitments, transparency, and safety valves.

  • Roles Played by WTO, IMF and World Bank in the World Economy

    Through formulating policies and implementing these policies in the developing countries, WTO supports in the economic development of the country (Greenaway, 2009). WTO increases the trade liberalization by promoting "free trade" agenda.

  • World Trade Organization

    Through the WTO, members develop their skills in carrying out basic world trade policies and systems to acquire international experience in dealing with the organization's trade regulations.

  • Agricultural subsidies

    (a) Examine the GATT/WTO regulations concerning agricultural subsidies (origins, implementation, existing subsidy values). The Agreement on Agriculture of the Uruguay round is the most substantial trade liberalization agreement.

  • international organizations

    Mission of WTO: The WTO aims to increase international trade by promoting lower trade barriers and providing a platform for the negotiation of trade and to their business.

  • What would you consider to be a global equivalent(s) to the

    Member countries are required by the WTO to publish their regulations regarding trade in their countries, and to make their regulations public, as well as providing them directly to the WTO.

View More Related Solutions