International Trade Simulation Assignment: Make Your Decision
https://www(dot)shmoop(dot)com/international-trade/game.html.html
In this trade game, you are the President of the United States and must decide whether to impose a tariff on Chinese Tires. To play the game follow this link (https://www(dot)shmoop(dot)com/international-trade/game.html.html)Links to an external site..)Links to an external site..
After playing the game (estimated to last about 15 minutes), answer the following questions in the form of a short essay. Your completed essay should be at least 250 words in length:
1. Which groups did you make happy with your decision?
2. Which groups did you make unhappy with your decision?
3. When first starting the game, were you in favor of a tariff or against a tariff? Why?
4. After the game were you in favor of a tariff or against a tariff? Why?
5. What does your text have to say about the economic impact of tariffs?
Cite your source if you used any
Please write and submit your reflection as a doc or docx attachment.
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International trade simulation assignment
/international-trade/game.html.html
1 Which groups did you make happy with your decision?
Protectionism through tariffs has positive and negative impacts on different stakeholders, and businesses that increase profitability and their representatives are the happiest with imposing tariffs. A representative from Goodyear Tire Company and he President of the United Steelworkers were the happiest because of the protective tariff. Additionally, the Goodyear Tire Company mainly manufactures and sells in the US and a tariff would make the company’s tires more competitive. The Secretary of Commerce also supports the tariffs because of china’s unfair trade practices. Thus, the groups most happy with the tariffs are those who seek to protect the tire industry and protect the US against unfair trade practices.
2. Which groups did you make unhappy with your decision?
The groups against the tariffs believe that they do more harm, and others are concerned there may be retaliation, which will affect other industries, particularly the agricultural sector that exports to China. This includes the representative from the American Chicken Association, Chairman of the Fed, a representative from Cooper Tire, and Queen of the Cali Garlic Festival. Additionally, the Secretary of State believes this may cause an international diplomatic incident, while the Secretary of the Treasury has mixed feelings and finds the main issue is currency manipulation. Those opposed believe that the businesses and the country will lose out and others the consumers will pay higher prices, while the tariffs also distort the free markets.
3. When first starting the game, were you in favor of a tariff or against a tariff? Why?
I am in favor of tariffs against unfair...
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