Explanation should include a definition of the terms trade barrier, trade sanction, and protectionism and an examination of ways that protectionism is used as a trade barrier or sanction in the domestic and global marketplaces. Explanation should include but not be limited to the following examples:
- Boycotts
- Expropriation
- Licensing requirements
- Tariffs
- Quotas
- Embargoes
- Anti-dumping
Process/Skill Questions:
- How do trade barriers and sanctions affect the consumers of a country against which the barriers/sanctions are directed? How do they affect the consumers of the country inflicting the barriers/sanctions?
- How do trade barriers and sanctions affect the businesses of a country against which the barriers/sanctions are directed? How do they affect the businesses of the country inflicting the barriers?
- What are some of the political motives behind trade barriers?
- What are the political risks of trade barriers?
- What are some examples of trade agreements between the United States and other countries? What barriers to trade are inherent in these agreements?
- How can imposing a trade barrier between countries affect the economy and business entities within those countries?
- What ethical issues can trade barriers create?
- What are some examples of trade barriers that are not created by government actions?