THE CONSEQUENCES OF TARIFFS AND QUOTAS

Tariffs and quotas, controversial weapons in the government economic arsenal, are once again being implemented. The US government claims that this is going to help deal with their economic woes while others warn of the dangers of going down this path. Do your research and decide who is right and then write an essay where you discuss the effects of applying tariffs and quotas and starting a trade war.

Familiarise yourself with the issue

·         How Americans may be hurt by tariffs https://www.youtube.com/watch?v=zvsCKMtqeRc

·         The pros and cons of import tariffs and trade protectionism https://soapboxie.com/economy/Pros-and-Cons-of-Trade-Protectionism Scroll down for the history of trade protectionism

Reading material to make notes on

·         Pros and cons of tariffs http://www.prosancons.com/tax/pros-cons-tariffs/

·         The disadvantages of tariffs and quotas http://smallbusiness.chron.com/disadvantages-tarrifs-quotas-20726.html

·         Benefits and costs of tariffs https://www.economicshelp.org/blog/218/trade/benefits-and-costs-of-tariffs/

·         The basics of tariffs and trade barriers https://www.investopedia.com/articles/economics/08/tariff-trade-barrier-basics.asp

Videos to take notes from

·         Tariffs and protectionism https://www.youtube.com/watch?v=Gr-Ld7DnBZQ

·         How tariffs work https://www.youtube.com/watch?v=HWFV-bYfm_4
   
       Refer to my second blog, The Essay Archive, for sample essays: https://theessayarchive.blogspot.com/