Category Archives: Economy
Import Quotas are a “non-tariff trade barrier”
used to limit imports of particular products.
By limiting imports these quotas
can be used to stabilize the US price above the world price for the protected
products. Continue reading
We learned that the sugar import quota system operated to raise the price of sugar in the US to be about two times higher than the world price. US sugar producers gain from this program while US consumers of sugar (i.e.Coca Cola, Hersheys) are made worse off by the program. Continue reading