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World Trading Partners

Business partners are not a new phenomenon. However, take into consideration the names of these partaners when it comes to world trade: The United States, West Germany, France, Canada, Japan, and Great Britain. Taken together these world trade partners are responsible for the flow of imports and exports into and out of their countries. This research will focus on some of the ways in which these partners deal with each other, in terms of recent problems, deals, negotiations, and goals. As well, there is a threatening economic gloom over most of the world trade market. The United States is hampered by a huge trade deficit, or excess of imports. Canada, Japan, and West Germany are severely plagued by a lack of employment, even though for Japan there exists a huge trade surplus. This research will also discuss some of the problems causing difficulty for unilateral and fair trade measures to be enacted by all partners, and also show as a prime example the debate between the White House which calls for free trade, and the Congress which threatens sweeping trade restriction measures if something is not done to reduce the U. S. trade deficit.

There are many problems which cause trading partners to impose restrictions on levels of imports or exports for their countries. Further, there are many ways in which to effect this protectionism against foreign competition. Some of the more commonly used devices that world traders use to protect trade are tariffs, quotas, and regulations. Tariffs are taxes imposed on goods which set up a wall between the product and the consumer. For example, Taiwan imposes a 15 - 20 percent tariff on cars. Quotas are basically the most efficient way of protectionism. Outright levels of numbers of goods are set up and no more may be allowed into the country. Japan is an example of a country which blatantly limits imports. Sometimes this is how two trading partners will work out a deal. For example, ...

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World Trading Partners. (1969, December 31). In LotsofEssays.com. Retrieved 13:15, March 28, 2024, from https://www.lotsofessays.com/viewpaper/1702484.html