1. Chapter 10: Trade organizations and policy
Charles van Marrewijk
International Trade
Chapter 10: Trade organizations and policy

2. 10.2 spiderweb spiral: world imports in million US gold dollar, 1929-1933
January
December
February
1929
1930
1931
March
November
1932
1933
April
October
September
May
August
June
July

3. 10.3 components of world trade in services; USD billion, 2013

4. 10.4 impact of a rise in export prices

5. 10.5 worldwide applied tariff rates

6. 10.6 USA average tariffs,

7. 10.7 impact of a tariff; partial equilibrium, small country
Price
demand
supply
pft+T T A H1 B H2
pft
qsft
qstar
qdtar
qdft
Quantity

8. 10.8 impact of a tariff; partial equilibrium, large country
Price
demand
supply
ptar+T T A H1 B1 H2
pft B2
ptar
qsft
qstar
qdtar
qdft
Quantity

9. 10.9 impact of a tariff in general equilibrium, small country
Food
(1+t)pworld
pworld Q* Q2 C* C2 C1 U* U1 U2
Manufactures

10. 10.9 production (square), consumption (circle), and relative price
10.10 production (square), consumption (circle), and price
10.9 production (square), consumption (circle), and relative price

11. higher welfare for America
10.11 America's offer curve
America import
America offer curve
higher welfare for America
slope p' D Up
Up'
slope p C
America export

12. 10.12 free trade equilibrium with offer curves
America import
America
offer curve
Britain export
free trade
price = p E
Britain
offer
curve
America export
Britain import

13. America offer with ‘optimal’ tariff
10.13 the 'optimal' tariff
America import
America
offer
America offer with ‘optimal’ tariff
Britain export
Up' Up E
Britain offer F
America export
Britain import

14. America offer with ‘optimal’ tariff
10.14 tariffs and retaliation
America import
America
offer
Britain export
America offer with ‘optimal’ tariff E
Britain offer F G H
Britain offer with ‘optimal’ tariff
America export
Britain import