International Trade Debate Essay

Submitted By jassysazzy06
Words: 341
Pages: 2

A tariff is usually a tax that one country sets on the imported goods or services of another nation. A quota is a trade restriction set by a country to maintain and secure the country’s interests by limiting the amount of goods that can be imported into the country for a fixed time period. The tariffs and quotas in the United States were established to control the amount of goods that enter into the United States to protect the United States interests economically while still maintaining the healthy trading relationship with other countries. The United States utilize these trade restrictions to decide which countries will be suitable. These trade tools are meant to guard the country’s economic interests and establish relations with particular nations. Some critics of these trade tools argue that tariffs and quotas often lead to corruption, such as with smugglers seeking to escape tariffs and quotas and high prices for consumers as there is less competition between domestic and international goods, which tend to be less expensive.I think that it is very important that trading with other countries is limited. With the economy that we are currently in, many people stand to benefit from their products being bought and sold locally. On the other hand, there are some products that can be produced here, but not in a high enough quantity to meet the demands for those products. This is where trade comes in. By putting high tariffs and quotas on products being traded, they can…