This is a project for students of Global Economics. The project is intended to enhance critical thinking, research skills, writing skills, and students’ ability to apply concepts learned in class to real life situations.
For this project, you are required to research the trade policies and trade barriers of USA and compare those to another country (preferred countries are Canada, China, Japan, UK, India, and South Africa) to examine the following:
The tariff rates.
Are there quotas or quota-like measures?
In which sectors?
Are there other non-tariff measures?
Why would countries such as the United States find such controls objectionable?
How have such controls impacted trade and GDP? Hint: remember next exports is one of the components of GDP.
Are there currently any discussions to resolve these issues?
Be sure to include the following:
Introduction – explain purpose of your research.
Literature review – Trade policies and barriers in general.
Review trade policies and barriers in USA and your preferred country for comparison – List the policies chronologically.
Include any changes to trade volumes associated with the policies or barriers.
Draw a conclusion.
For literature review, use credible journal articles (peer reviewed), credible websites (wall street journal, economist, Brookings, etc.), textbooks, and any other credible source you come across. Galileo/ Library should be your “friend”. When reviewing literature, take note of any policies implemented, if at all, and then using your observed data discuss why or why not such policies were (in) or appropriate. Be sure to include a summary of any policies that you come across.