Regulatory Issues and Non-Tariff Barriers

A tariff is a tax on foreign goods. The price of foreign goods increases with the tax, and provides revenue for the government, which makes American products more appealing. This is because the foreign goods that were cheaper are now more expensive. However, why was there a need for tariffs in the early 19th century (1800)? The reason is because, American industries were young, Britain flooded the US market with cheap goods after the War of 1812, and foreign goods have been often cheaper. In order to make sure American businesses could prosper, there had to be tariffs on the foreign goods. The tariff of 1816 was the first substantial protective tariff of the American System; supported by Henry Clay, but opposed by John C. Calhoun and Southern cotton growers. The tariff of 1824 increased the rate of the protective tariff and opposition in the South grew. In the Tariff of 1828 (Tariff of Abominations), there were higher protective tariffs to New England Mills; and Southerners were outraged including Calhoun.

The years immediately following the War of 1812 saw a growing spirit of nationalism throughout the country. The rapid expansion of that period added 6 more states: Louisiana, Indiana, Mississippi, Illinois, and Alabama. In addition, strong new leaders of the time were added, such as John Quincy Adams, Daniel Webster, Henry Clay of Kentucky, and John C. Calhoun. Henry Clay called nationalism the “American System.”

It is concerning that the exit of the United States in TPP will allow for the foothold of competing

The tariff laws between the late 1828 and 1833 caused people like John C. Calhoun to realize that states should have the right reject laws passed by the federal government. This law forced the South to buy manufactured goods from U.S. manufacturers at a higher price. The southern states also received a reduced income from raw materials they sold to Northern manufacturers. This affected the Southern states economy and made many politicians angry, including Calhoun, the vice president and a politician from South Carolina. Later he wrote a nullification doctrine to express his opinions on the tariff. The nullification crisis greatly affected the growth of states’ rights over federal power. Because of the nullification crisis in South Carolina there were even thoughts of secession in the early 1830’s.

From an academic standpoint, economists overall believe that free trade would benefit the economy more than instituting tariffs and non-tariff trade barriers. However, the reality is quite different. Politically, tariffs help to strike a balance between social welfare and the politicians’ goals. One theory is that campaign contributions are needed for re-election; and to achieve these funds, politicians will weigh this need against welfare-reducing protection for industry lobbyists (Magee, 2011). The models would suggest that the tariffs should actually be much higher than they are due to the low efficiency cost of tariffs compared to the substantial gains provided for the producers (Magee, 2011). However, developed countries actually have very low tariffs. There are six possible explanations for why developed countries have such low tariffs when the political theories behind why we have tariffs at all would suggest they should be higher.

Regulation is the EU’s core responsibility in the Internal Market. To make the Internal Market function properly, both EU regulation and changes in national regulation have to be enforced. It is in the EU

Trans-Pacific partnership opens a new free market field with minimal trade restrictions. Members are expected to conduct trade within the jurisdictions of the member states with much

The article “Why Canada Needs Europe” discusses the Comprehensive Economic and Trade Agreement (CETA), [was signed by Prime Minister Stephen Harper and European Commission President Jose Manuel Barrosa on 18 October 2013] which establishes a commercial trade agreement between Canada and the European Union (EU). It describes how CETA could improve trade and economic conditions in Canada by reducing tariffs that limit profitability and international competitiveness, as well as updating regulations that impact areas such as intellectual property, labor mobility, and technical standards. Like NAFTA, CETA is in part intended to improve trade flow by reducing traditional barriers like tariffs. Hence, the article discusses about the trade regulations that Canada and European union had after signing the agreement.

With the United States currently experiencing another presidential election the world is in suspense, watching to see who will become the next leader of the free world. Such halt corresponds to the running of two presidential candidates: Hillary D. Clinton and Donald J. Trump. Such halt derives from candidates proposed trade policies for the United States and its latter ramifications. This emphasis on trade originates from this idea that we live in a globalized economy and with the United States being a predominate actor within the international community, policies, for instance, that do not support globalize trade potentially harm developing and developed countries who have ties to the U.S.. Both Hillary Clinton and Donald Trump share similarities amongst their trade agendas; for example, Clinton’s policies surrounding trade must “work” for the U.S. while Trump 's objective is to renegotiate current and future trade agreements to better suit the U.S.. Therefore, each candidate’s trade proposal must undergo an evaluation of the potential outcomes that derive from each proposal and identify which candidate 's agenda is better suited for the United States and the global aim to liberalize trade. Candidate Hillary Clinton’s trade policies, although minimal in its size, maintains relationships with allied countries and does not harm the United States in trade; while on the other hand, candidate Donald Trump’s trade policies lead to negative ramifications that

TTIP is notable for it’s benefits played to small to medium enterprises, and introducing them on to the world market. Should European style regulations be included as part of the deal, this will have a massive impact on those enterprises, especially in the dairy industry. This is primarily because of the fact that GI’s virtually eliminate rival goods. Without the ability for any producer outside of a given geographical region to produce the good, local business experience steep and powerful patronization (Benavente). For example, if Kraft parmesan cheese were to be taken off the market, it would allow cheese producers from Parma to take over the large

The Trans-Pacific Partnership (TPP) and Michael Froman (United States Trade Representative) need to decide whether it is necessary to reduce tariffs to benefit Americans and the economy or keep the tariffs in order to keep certain manufacturing jobs in the United States.

Globalization has become one of the most influential forces in the twentieth century. International integration of world views, products, trade and ideas has caused a variety of states to blur the lines of their borders and be open to an international perspective. The merger of the Europeans Union, the ASEAN group in the Pacific and NAFTA in North America is reflective of the notion of globalized trade. The North American Free Trade Agreement was the largest free trade zone in the world at its conception and set an example for the future of liberalized trade. The North American Free Trade Agreement is coming into it's twentieth anniversary on January 1st, 2014. 1 NAFTA not only sought to enhance the trade of goods and services across

In June 2013 the European Commission and the U.S. government have commenced negotiations for the Transatlantic Trade and Investment Partnership (TTIP), a proposed free trade agreement between two of world’s largest economic and political partners.

Many economists today argue that the fewer tariffs and barriers there are to foreign trade, the better everyone fares. That view underlies the agreements that the United States and 152 other countries have made as members of the World Trade Organization (WTO). Among other

In the world, several international organizations are created for peaceful relationship and benefits from each other. Recently, a big news from the United Kingdom has caused people in a panic. That’s its withdrawal from the European Union, an international organization comprising 28 European countries and governing common economic, social, and security policies. This decision is widely known as Brexit. This has affected the operation of the international business market between countries in Europe, especially the United Kingdom. Some people are happy about it and some do not. The trading and workers in the United Kingdom therefore have significant impacts related to the trade organization, trade barrier, arguments for trade Barriers, and imports.