a. Promoting Diversification
b. Protecting Specific Groups
c. Improving the Terms of Trade
d. Protecting Infant Industries
e. Earning Economic Profits in Foreign Markets
3. Invalid Arguments for Protection
a. Keep the Money at Home
b. Protect Against Low-Wage Foreign Labour
c. Exports Are Good; Imports Are Bad
d. Create Domestic Jobs
D. 33.2 Methods of Protection
- Tariffs
- Import Quotas
- Tariffs Versus Quotas: An Application
- Trade-Remedy Laws and Non-Tariff Barriers
a. Dumping
b. Countervailing Duties
E. 33.3 Current Trade Policy - The GATT and the WTO
- Regional Trade Agreements
- Trade Creation and Trade Diversion
- The North American Free Trade Agreement
a. National Treatment
b. Dispute Settlement
c. Other Major Provisions
d. Results
a. Trade Creation.