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Assume the following government interventions have been proposed in the United States on various agricultural products: read the following: https://www.france24.com/en/europe/20211031-eu-us-reach-deal-to-end-row-over-trump-era-aluminum-and-steel-tariffs 25% tariffs on imports of
Assume the following government interventions have been proposed in the United States on various agricultural products:
read the following:
https://www.france24.com/en/europe/20211031-eu-us-reach-deal-to-end-row-over-trump-era-aluminum-and-steel-tariffs
- 25% tariffs on imports of agricultural products (tariffs),
- 25% discount of farmers taxes (subsidies),
- A limitation of the quantity (in tons) of grain being imported (quotas)
A)Identify the benefits and consequences of these interventions from three unique perspectives:
- a business executive of a major U.S. agricultural products corporation, such as Cargill or ADM;
- a United States consumer; and
- a business executive of a major foreign agricultural products corporation, such as JBS S.A., BRF SA, or Bachoco.
After reading the article, answer the following questions from each perspective:
- What is your preference or philosophy toward free international trade?
- Which type of intervention do you prefer?
- What are the potential pros and/or cons of each intervention in the short and long terms?
- Under what conditions would you change your view toward supporting or not supporting proposed government interventions toward international free trade?
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