1. Define and discuss the terms balance of trade, trade deficit, trade surplus, and balance of payments. Name some countries with whom the United States has trade deficits and trade surpluses.
2. There are a lot of barriers to international trade. Choose a Fortune 100 company that has gone global and investigate how barriers to international trade have impacted the organization. Identify at least 4 barriers that this organization has been challenged with. Has it been able to overcome these barriers? Be specific with your determination. Additionally, there are numerous ways an organization can be involved in international trade. Using the same Fortune 100 company, describe at least 4 ways it is involved in international trade. How has this company been successful in its international trade? Give at least 2 examples to support your answer.
3. Give some examples of United States import tariffs. How have import tariffs contributed to tensions between the United States and China.
4. Choose one of the terms listed below and explain its origin and its impact on globalbusiness:
   • GATT
   • WTO
   • NAFTA
   • EU
   • APEC
   • ASEAN
   • IMF