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Read to Learn

raymondgray avatar
raymondgray
17 diapositives · 210 Views · Jan 04, 2020

Learn about free trade and protectionism, their impacts on businesses and consumers, and the global competition dynamics. Discover who benefits and who doesn't. Explore trade barriers like tariffs, quotas, and embargoes. Find out about trade alliances such as NAFTA, ASEAN, and the EU.

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Read to Learn
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  1. Read to Learn • Describe free trade. • Indicate who benefits and who does not benefit from free trade.

  2. The Main Idea Protectionism is the practice of putting limits on foreign trade to protect businesses at home. However, protectionism decreases competition and generally increases the prices that consumers pay for goods and services. More nations are moving toward free trade.

  3. Protectionism and Free Trade Global competition often leads to trade disputes. Protectionism and free trade are two opposing points of view involved in trade disputes.

  4. Protectionism Japan practices protectionism in the areas of rice farming and auto production. protectionism the practice of the government putting limits on foreign trade to protect businesses at home

  5. Protectionism

  6. Protectionism

  7. Protectionism A tariff is an example of a trade barrier. tariff a tax placed on imports to increase their price in the domestic market

  8. Trade Sanctions A government can impose a trade sanction, or penalty, on other countries, usually by adding tariffs.

  9. Protectionism A quota is another example of a trade barrier. quota a limit placed on the quantities of a product that can be imported

  10. Protectionism An embargo is a trade barrier that is usually used for political or military reasons. embargo a ban on the import or export of a product

  11. Free Trade Supporters of free trade think all countries should be free to compete anywhere in the world without restrictions. free trade when there are few or no limits on trade between countries

  12. Free Trade

  13. Free Trade

  14. Free Trade To reduce limits on trade, nations form trade alliances. NAFTA (North American Free Trade Agreement) combined the economies of the United States, Canada, and Mexico.

  15. Free Trade Some people opposed NAFTA because they feared some workers would be displaced when trade barriers were lowered.

  16. Graphic Organizer North AmericanFree Trade Agreement(NAFTA) Association of Southeast Asian Nations (ASEAN) European Union(EU) United States, Canada, Mexico Austria, Belgium, Cyprus, Czech Republic, Denmark, Estonia, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, United Kingdom Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam