MSU Trade Wars Between the United States and China Discussion

User Generated

Fuvzzl

Business Finance

Michigan State University

Description

Issue #4: Do We Really Have Free Trade?

BGEN 360: International Business

INSTRUCTIONS Topic The fourth issue we will cover in class is the topic of free trade. Does it really exist? The World Trade Organization (WTO) states on its website that “its main function is to ensure that trade flows as smoothly, predictably and freely as possible,” and that it helps countries negotiate agreements that are “aimed at reducing obstacles to international trade and ensuring a level playing field for all, thus contributing to economic growth and development.” Yet, the US and China are both members of the WTO and both countries have been engaging in a trade war that just recently eased with the signing of trade agreements in February 2020. How can that be?

The purpose of topic is to see what you can find out about the realities of free trade in the world.

Assignment Requirements Please refer to the document titled “Issue Presentation Instructions: Teams and Individuals” found on the D2L content page of our course for detailed instructions on the requirements for the assignment. Both the instructions for individuals as well as the presenting team are provided.

STARTER MATERIAL Textbook The entire chapter discusses the topics of free trade, the barriers to free trade (e.g., tariffs, subsidies, quotas, dumping, etc.), and the political and economic arguments for creating such barriers. The chapter also discusses the creation of the WTO, its purpose, and some limitations to its ambitions.

Other Starter Material Examine the website for the World Trade Organization to explore what the organization is, its history, the functions it performs, and how it handles trade disputes. • https://www.wto.org/ Explore via Google search the tariffs and quotas that are currently imposed by the US government on imports.

Also, investigate which crops receive the largest subsidies in the US and in the state of Montana. As you look for articles to review as part of the assignment, find current events related to tariffs, quotas, subsidies, dumping, and trade wars.

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Attached.

Running head: FREE TRADE

1

Free Trade
Name
Institution Affiliation
Date

FREE TRADE

2

Trade wars between the United States and China have been growing since the election
of the current US President Donald Trump. During his campaigns, President Trump promised
the American people that he would impose 35% to 45% tariffs on goods imported from China
in a bid to protect their local market from being overtaken by Chinese products. The dispute
between the two countries has seen both countries impose tariffs worth billions of dollars on
one another’s goods. President Trump claims that China is practicing unfair trade policies and
intellectual property theft. At the same time, china views this move by the U...


Anonymous
Just what I was looking for! Super helpful.

Studypool
4.7
Indeed
4.5
Sitejabber
4.4

Similar Content

Related Tags