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Topic 5: International trade policy

1) What is it difficult to do? : It is difficult to formulate (protective) trade policies that un-ambiguously raise national welfare
2) When would a trade-war occur? : A trade-war would occur if a country implements protective trade policies and another country retaliates
3) What is trade policy dominated by in many contexts? : In many contexts, trade policy is dominated by political interest groups
4) What has there been from mid-1930s onwards until recently? : From the mid-1930s onwards until recently, there has been a wide-spread move towards trade liberalisation particularly with a steady decline in tariff reduction
5) Who began reducing tariffs and other no-tariff barriers to trade generally from late 1930s to 1980s? : The United States and other advanced/developed countries started reducing tariffs and other non-tariff barriers to trade (generally from late 1930s to 1980s) thereby leading to a rapid increase in international integration
Created on: 5/17/2017
# of questions: 115

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