Explore BrainMass
Share

Trade Regulations & Industrial Policies: WTO

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

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.

© BrainMass Inc. brainmass.com October 25, 2018, 9:21 am ad1c9bdddf
https://brainmass.com/economics/economic-policy/trade-regulations-industrial-policies-wto-571015

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 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.

$2.19
See Also This Related BrainMass Solution

Obstacles to Successful International Economic Policy

Details: Upon your return home, you receive an invitation to speak to a class at the local high school. You are to be part of a panel of three local people considered to have experience in international business. The question you are assigned to answer is "What are some obstacles to successful international economic policy coordination?"

View Full Posting Details