1. Let’s look at TRADE!!!!!!
Why do we trade?
Is trade good or bad ?

2. Clothing Exports

3. Clothing Imports

4. So who benefits from trade?
Who gets hurt by trade?
Do we care if people are hurt?
What are we supposed to do about it?

5. Trade
Barriers

6. Tariff
Tax on imports

7. Quota Value based or physical limit on how much can be imported
Illegal goods have a zero import quota
In the US in 1996, milk, cream, brooms, ethyl alcohol, anchovies, tuna, olives and durum wheat were subject to tariff-rate quotas. Other quotas exist on peanuts, cotton, sugar and syrup.

8. Embargo Ban on all or nearly all trade
Used to influence political actions

9. Standard
Regulations on testing, quality, classification, labeling of imported goods and services

10. Subsidy
Financial assistance to a company or industry by the government
Used to help keep them competitive