PSCI 3328 Lecture Notes - Lecture 24: Economic Sanctions, Muammar Gaddafi, House Of Saud
Document Summary
What happens to the price of import: price goes up. Who benefits: domestic producers of the imported produced. Who suffers: the external manufacturer/producer, and the purchaser of the product/consumers. Quantitive limit placed on the import of particular goods. What happens to the price: price goes up. Nontariff barriers: obstacles to imports other than tariffs. : regulations that favor domestic over imported products. Why would a state impose domestic barriers to trade: domestically, to protect an industry or group of people. In general, protection makes some thing more scarce. People who won that thing like this, while the people who don"t own that thing dislike this, as they pay higher prices for the same thing: made in the usa. Types of sanctions: tariffs, export controls, embargoes. Import bans: travel bans, freezing assets, cutting aid, blockades. Cut off everything going in and out of that country.