GMS 400 Lecture Notes - Lecture 5: Government Issue, Canada Revenue Agency, Single Market

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 400
• Professor: Dale Carl

Document Summary

Tarifs: often called custom or import duties taxes on imported goods, traditionally used to protect local industries. Raises the price of imports: may also be used bilatarally to compensate for export subsidies? o. Subsidies protect your farms so the nation can develop its own borders (harbours form world war 1 and world war 2) o. Keep as many people in the land as possible. Only 5 percent of the country is arable. Most favoured nation status members must receive equal treatment among all the membered nations. Give your best rate to every member of the wto unless they are a member of the trading bloc. Non-tarif barriers: government laws, regulations, policies or practices that protect domestic companies from foreign competition, quotas (particularly on textiles and foot ware) o. Product standards (lack of harmonization with international standards. Sanctions or embargos o o o o o o. Product standards i. e. country standards vary from country to country (ip rating)