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Title: International Trade

Essay Details

Subject: Business
Author: George A
Date: September 1, 2012
Level: University
Grade:
Length: 7 / 1969
No of views: 0
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Essay text:

Tariff bills were the major item of congressional business; Congress typically responded to industry demands for protection by imposing high duties on import. (Government and Business: American Political Economy in Comparative Perspective. Pg 281-282) At the center of the controversy is the World Trade Organization (WTO)...

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The WTO was established in 1995 in order to transform the General Agreement on Tariffs and Trade (GATT) into an enforceable global commercial code. Traditional international trade involves a complex system of trade barriers to ensure the protection of domestic industry and its workers interests. The trade impediments and subsidies include protective tariffs, import quotas, non-tariff barriers such as licensing, and export subsidies...

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