Trade
Destanie Spencer
Free Trader
Free Traders think international trade should occur without any barriers. They believe the competition strengthens the newer businesses.International trade allows for specialization, so lower prices and better quality. In a war, we need to trade with the country that makes a product the best.
NAFTA
The North American Free Trade Agreement encourages trade without barriers between the US, Canada, and Mexico.
EU
The European Union encourages trade without barriers between European nations.
ASEAN
The Association of Southeast Asian Nations encourages trade without barriers between Southeast Asian nations.
Protectionist
Protectionists believe that as much as possible should be made domestically. New businesses should be able to grow and become more efficient without the international competition, so we believe there should be a temporary tariff. We believe free trade makes less jobs available because of competition with nations that have lower wages. We believe that we should make basic important things (oil, airplanes, etc.) in case we are unable to trade with other nations.
Embargo
Embargoes occur when trade stops completely with another nation.
The US had an embargo on Cuba, so things , like Cuban Cigars, weren't imported into the US.
Tariff
Tariffs occur when there is a tax on certain goods.
The US had
Quota
Quotas occur when there is a limit on the number of a product that will be imported.
Standard
A standard is a "rule" that must be met by goods imported into a nation. This increases the quality of goods imported.
Subsidy
A subsidy occurs when the government gives money to a business owner, farmer, etc. This encourages goods to be made domestically.