GMS 400 Lecture Notes - Lecture 5: Bulgari, Atlantic Corridor, Caribbean Community

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 400
• Professor: Mohammad Nikoofal

Document Summary

Lecture 5: barriers to trade and regional trading. Tariffs(often called custom or import duties): taxes on imported goods, traditionally used to protect local industries. May also be used bilaterally to compensate for export subsidies e. g. against agricultural products from the eu. Most favoured nation status: by wto regulation, a country must set tariffs for every country the same as for the best country rate (most favoured nation) Does not include the rate within trade blocs or by special bilateral agreements. Government laws, regulations, policies or practices that protect domestic companies from foreign competition: Product standards (lack of harmonization with international standards) Labeling requests (e. g. english and french in canada) These are legally recognized by the wto, and do not affect the most favoured nation tariff requirements. Common market: no internal tariffs, free movement of labour and. Common market: no internal tariffs, free movement of labour and banking, and common tariffs for exports from outside countries (eu)