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Rounds of the general agreement on tariffs

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Reference no: EM132006585

As a result of many rounds of the General Agreement on Tariffs and Trade and other trade negotiations, both tariff and nontariff barriers have been significantly reduced on a worldwide basis. However, given recent shifts in productive assets and employment from many industrialized countries to emerging economies, such as India and China, cries for protectionist measures can be heard from many quarters. Consider the possibility that governments in industrialized countries will once again implement some form of protectionist measures in order to protect their markets and industries. Do you expect that such measures would be in the form of tariffs or nontariff barriers? Why?

Reference no: EM132006585

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