Readings

Asgary, N.H. (2020). Global Business: An Economic, Social, and Environmental Perspective. Information Age Publishing. Chapter 3, Trade theories and the role of government in tradeLinks to an external site.

Zdrhal, I., Hrablek, M., Kadlec, P., & Krpec, O. (2021). Brazil's comparative advantages and specialization dynamics in agri-food trade.Links to an external site. Agris On-Line Papers in Economics & Informatics, 13(2), 121-139.

Videos

Professor Dave Explains. (2021, June 30). Absolute advantage vs. comparative advantageLinks to an external site. [Video]. YouTube. [7:27]

In this discussion, we'll be researching tariffs that are currently in place.

Step 1: Identify a current tariff by the United States (other than for steel or aerospace) imposed by the United States. Here is the best site for determining tariffs for all tangible goods entering the United States: Harmonized Tariff Schedule of the United StatesLinks to an external site.

Step 2: Learn how to read a tariff schedule. Interpreting a tariff schedule is not difficult once you know what you're looking at. We strongly encourage you to review the International Trade Commission's Guide to the Harmonized Tariff Schedule of the United States.Links to an external site. Specifically the sections on reading the Harmonized Tariff Schedule. Tariff Schedule education screenshot

Step 3: Research your chosen tariff. On the site provided in Step 1 or elsewhere. Seek the answers to the following: Which products are impacted? Which countries are impacted by the trade restriction? When was the tariff imposed? Why was the tariff enacted?

Step 4: Complete initial post, addressing the following: A synopsis of what you learned concerning the details of that tariff, addressing the questions in step 2. Illustrate how your chosen industry has been impacted in the country which imposed the tariff and in the country which is subject to that trade restriction. Hypothesize if either of the countries that you discuss has an absolute or comparative advantage for the products that are impacted by the tariff.