Select a developed country that has implemented a tariff and a developing country that manufactures products that are affected by that same tariff. Investigate the impact of the trade barrier on the...

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Select a developed country that has implemented a tariff and a developing country that manufactures products that are affected by that same tariff. Investigate the impact of the trade barrier on the developing country’s business sector; quantify the impact if possible. Would you recommend that the developed country eliminate the tariff?



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Answered Same DayDec 27, 2021

Answer To: Select a developed country that has implemented a tariff and a developing country that manufactures...

Robert answered on Dec 27 2021
122 Votes
International Economics
Trade between developed nations and developing nations have always been of
economic
interests for overall development of the world economy. However, nations try to adopt
protectionist role at times to support domestic industries. This is being done by the use of tariffs
or import duties. Developed countries are lesser impacted by these measures as the trade off for
them is higher price for consumer for larger economic welfare like securing industry and jobs
(Balassa, B., 1968). However, same policy have a daunting impact on the developing and world
economies.
In this article we would discuss about the tariff policies of United States after the Uruguay
Round of conference. The tariff rates for manufactured goods like watch parts were...
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