1. Benefits of International Trade By: Morgan Finley and Kimberly Woulfe Colorado Technical University ECON310-1304B-04 : Global Managerial Economics

2. Italian Imports and Exports Imports  Engineering products  Chemicals  Transport equipment  Energy products  Textiles/clothing  Food/beverages  Tobacco Exports  Engineering products  Textiles/clothing  Motor vehicles  Minerals/nonferrous metals  Production machinery  Transport equipment  Chemicals Source: Economy Watch Content, 2010

3.  U.S. receives 6% of Italian exports  U.S. sends no exports to Italy  Italy has limited natural resources  Trade with Italy would be with limited U.S. competition  Main competitors would be Germany & France  No current free trade agreements between Italy and U.S. U.S. Trade with Italy

4.  No current U.S. export trade  Limited competition  Could negotiate mutually beneficial trade agreement  Would lower U.S. trade deficit with Italy  98.4% of Italians highly intelligent due to extensive schooling  Outstanding manufacturing possibilities  UN member country Benefits of Trade with Italy

5.  Manufacturing facilities  Export natural resources such as minerals found in U.S.  Textile manufacturing facilities  Export Napa Valley wine while importing Italian wine  Export fruits and vegetables not easily grown in Italy  Export grains and agricultural equipment for harvesting crops Beneficial Trade Possibilities

6. Trade with Canada  North American Free Trade Agreement (NAFTA)  The United States exported $292 billion to Canada in 2012  Top Exports: Machinery, Vehicles (parts), Electrical Machinery, Mineral Fuel / Oil and Plastic

7.  New Customers – Bigger customer base  New Opportunities  Increase Your Profits  Lower Production Costs  Lower Taxes  Expand Your Business Benefits of Trade

8.  Risk of War  Importing of Harmful products  It May Exhaust Resources  Danger of Starvation Risks of Trade

9. Canada’s gateway. (2012). Canada’s trade advantage. Retrieved from www.Canadasgateways.Gc.Ca/canadastaxadvantage/chap1-eng.Htm. www.Canadasgateways.Gc.Ca/canadastaxadvantage/chap1-eng.Htm Economic watch content. (2010, march 24). Italy trade, exports and imports. Retrieved from http://www.Economywatch.Com/world_economy/italy/export-import.Html. http://www.Economywatch.Com/world_economy/italy/export-import.Html Italy. (2013). Italy’s top imports/exports. Retrieved from http://jwphillipsitaly.Weebly.Com/topimportsexports-of italy.Html. http://jwphillipsitaly.Weebly.Com/topimportsexports-of italy.Html Patel, f. (2013). Advantages and disadvantages of international trade. Retrieved fromwww.Guesspapers.Net/1593/.www.Guesspapers.Net/1593/ Trading economics. (2013). Italy exports. Retrieved from http://www.Tradingeconomics.Com/italy/exports.http://www.Tradingeconomics.Com/italy/exports U.S. Census bureau. (2013, december 4). Foreign trade: U.S. Imports from italy by 5-digit end-use code 2003-2012. Retrieved from www.Census.Gov/foreigntrade/statistics/product/enduse/imports/c4759.Htmlwww.Census.Gov/foreigntrade/statistics/product/enduse/imports/c4759.Html USTR. (N.D.). Office of the united states trade representative. U.S. – Canada trade facts. Retrieved from www.Ustr.Gov/countries-regions/americas/canada. www.Ustr.Gov/countries-regions/americas/canada USTR. (N.D.). Office of the united states trade representative. North american free trade agreement. Retrieved from www.Ustr.Gov/trade-agreements/free-trade-agreements/north-american-free-trade-agreement-nafta. www.Ustr.Gov/trade-agreements/free-trade-agreements/north-american-free-trade-agreement-nafta References