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Lecture 3

GMS522 Week 3.docx

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Ryerson University
Global Management Studies
GMS 522
Carlyle Farrell

INT MKTG WEEK 3 International Trade  Not all countries are dependent on int trade. (Canada/china very dependent)  Reasons a country might trade internationally to one country o Culture o Language o Political system  Governance of Int trade o National governments responsible for setting domestic int trade policies and monitoring imports and exports.  Protectionism o Measures adopted by national governments to unduly restrict trade and foreign investment  Only protectionism if it was banned to protect producers, not consumers  Can be applied to services as well o Protectionist measures include  Tariffs  A tax that is imposed by a domestic government on an internationally traded product  Export tariff o Imposed on a product which is being exported from a country  Transit tariff o Imposed on a product which is being trans shipped from one country to another  Import tariff o Levied on imports  Calculation o Ad valorem:  A percentage of the market value of the imported product o Specific:  A dollar amount on each unit of the product which enters, leaves or is transshipped through the country o Compound:  Both ad valorem and specific component  Quotas  A quantitative restriction on the volume of product that can be imported into a country over a specified time period o Form of non tariff barrier o The impact of a quota would be to restrict availability of the foreign product in the domestic market – a result that favors domestic producers.  Absolute:  Strict limit on the volume of imports coming in  Voluntary export restrictions  A promise by one country to limit
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