Explain variation in trade restrictions across us industries

Reference no: EM131917650

Problem

1. Why have tariff reductions been substantial over the years while reductions in nontariff barriers have been minimal?

(a) Build a case in favor of the use of the nonreciprocity principle for developing countries.

(b) Build a case against the use of the nonreciprocity principle for developing countries.

3. If all interventions in agriculture were removed, what would happen to food prices? To the incomes of farmers? To world welfare? Might your answer be different for some developing countries than for developed countries?

4. Some observers have noted that by adopting VERs instead of tariffs in recent years, the United States has injured itself "twice" rather than only "once." What does this statement mean?

5. How can political factors explain variation in trade restrictions across U.S. industries?

Reference no: EM131917650

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