BUA 343 Lecture Notes - Lecture 8: Trade Barrier, World Trade Organization, Transfer Payment
20 Jan 2016
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Document Summary
Chapter 8 notes: the environment of international business. Protectionism national economic policies designed to restrict free trade and protect domestic industries from foreign competition. Tariff a tax imposed on imported products, effectively increasing the cost of acquisition for the customer. Nontariff trade barrier a government policy, regulation, or procedure that impedes trade through means other than explicit tariffs. Customs checkpoints at the ports of entry in each country where gov"t officials inspect imported products and levy tariffs. Quota quantitative restriction placed on imports of a specific product over a specified period of time. Export control a government measure intended to manage or prevent the export of certain products or trade with certain countries. Prohibit export of plutonium (makes nuclear weapons) to n. korea. Discriminates against smaller firms b/c typically lack resources to purchase. Import license gov"t authorization granted to a firm for importing a product them.
