Beginning Activities Title todays lesson: Barriers to International Trade Research Activity: Protection vs. Free Trade Mission Statement: To prepare you for a life of responsible citizenship Daily Expectations: – No one leaves once class has begun. – Come in quietly and get to work immediately – Pay attention and be respectful – No phones – No food or drinks other than water – Do your work – Give AP quality effort 5 bonus points for supplies

Extra Credit 5 points each 6 weeks for bringing supplies: – Paper clips – Pens – Paper – Staples – Tape

Barriers to International Trade Chapter 17 International Trade

Restricting International Trade Tariff – tax placed on imports to increase their price in the domestic market Revenue tariff – tariff high enough to generate revenue for the government without prohibiting imports. America has used revenue tariffs less since the income tax went into effect in Quota – limit placed on the quantities of a product that can be imported

The Free Trade Movement Reciprocal Trade Agreements Act (1934) – allowed America to reduce tariffs up to 50% if other countries agreed to do the same World Trade Organization (WTO) – International agency – Settles trade disputes – Organizes trade negotiations – Technical assistance and training for developing countries North Atlantic Free Trade Agreement (NAFTA) – Canada, America, and Mexico

Ending Activity Finish Research Activity Make sure the floor is clean Connect to our objectives: How does this prepare you for life and the future?