金融Essay結構：Effects of Tariffs onInternational Trade

本文是金融專業的Essay范例，題目是“Effects of Tariffs onInternational Trade（關稅對國際貿易的影響）”，(William r cline 1990)提到，經濟增長是漲潮，可以提升所有的船，而比較優勢是推動一個國家增長的潛在力量，相對而言，比較優勢在貿易政策中并不是一個新概念，它的存在可以追溯到由亞當·斯密1776年和大衛·李嘉圖1817年提出的。這種比較優勢的經典方面很大程度上是基于決定國際專業化的相對生產力差異(Bela Balassa 1989)。

1. Explain the Comparative Advantage in More Detail.更詳細地解釋比較優勢。

(William r cline 1990) mentioned that Economic growth is the rising tide and can lift all the boats and comparative advantage is the underlying force that drives a countries growth, comparative advantage has relatively not been a new concept in trade policy, its existence can been traced back as it was introduced by (Adam smith 1776   and David Ricardo 1817)  . The classical aspect of this of comparative advantage is largely based on relatively productivity differentials that determines international specialization (Bela Balassa 1989)

Comparative advantages in terms of productivity and exports: as mentioned by( Bela Balassa 1989)  The concept of comparative advantage among countries can be determined through wage structure and capital labor ratios of various industries can contribute to productivity differentials

In words of Ricardo 1817 comparative advantage can be referred as the opportunity for the world to increase output of everything by specializing in goods and exports that comparative advantage

Other view of the concept of comparative advantage can be illustrated through revealed comparative advantage concept as mentioned by (Bela Balassa 1965) as the relative trade performances of individual countries in particular commodities. This reveals that  assumptions of the commodity pattern of trade brings out the inter country differences in relative costs , this will help us in turn  making an assumption of comparative advantages of trading  countries (Bela Balassa 1989)

比較優勢概念的其他觀點可以通過(Bela Balassa 1965)所提到的揭示的比較優勢概念來說明，作為個別國家在特定商品方面的相對貿易表現。這揭示了商品貿易模式的假設會導致國家間相對成本的差異，這反過來會幫助我們假設貿易國的比較優勢(Bela Balassa 1989)

Exogenous comparative advantage is another concept in terms of international trade theory, and is relatively based on analysis of comparative endowment of natural resources among trading countries as mentioned by Ricardo (1817), (Heckscher (19190)

2. Describe how tariffs can restrict international trade?2. 描述關稅如何限制國際貿易?

The composition of world trade usually has a trade creation or trade diversion effect, and is the major composition of the world trade matrix. The creation of common country market has a wide effect on trading which is further effect by the tariffs, according to (Bela Balasa 1989) common market countries trade with each other either for reduction in trade tariffs or because of diverted trade.

世界貿易的構成通常具有貿易創造或貿易轉移效應，是世界貿易矩陣的主要組成部分。共同國家市場的創建對貿易有廣泛的影響，這是進一步的影響關稅，根據(Bela Balasa 1989)共同市場國家之間的貿易或減少貿易關稅或因為轉移貿易。

The concept of Tariffs has three basic to serve as a source of revenue, protect the domestic industries, and the punitive functions

From the perspective of small countries, tariffs can create a negative effect as they do not have an influence on the international prices, whereas the large countries that has an impact on international prices creating a positive effect

As mentioned by the (ministry of economy, trade and industry, Tokyo, in their report mentions of tariffs 2014) mentions of importance of binding, as sudden hike in the tariffs rates can create negative effect on the trade, As mentioned in their report Tokyo tariffs 2014 the Uruguay round the percent of industrial products that are subject to bound rates in Japan, U.S, The EU,is now about 100 percent.

正如日本經濟產業省(ministry of economy, trade and industry, Tokyo，在他們的報告中提到了2014年的關稅)提到了約束的重要性，因為突然提高關稅稅率會對貿易產生負面影響，正如他們在報告中提到的，2014年烏拉圭回合中，日本、美國和歐盟工業產品受約束稅率的百分比現在約為100%。

The effect of tariff as mentioned by (Bureau et al. 2013) mentions of situation on which if the all the WTO members were to increase the tariffs to the maximum level allowed in accordance with their commitment, the will lead to maximum average level of tariffs from 3.6 percent to 12.9 percent and the world rate would decline by 11.9 percent

From the perspective of off shoring an activity of producing the goods in overseas, off shoring and in sourcing and outsourcing are affected by the tariffs (Federico J Diez 2014)

For example half of the United states imports happens in the multinational firms as told (Federico J Diez 2014) , his articles specify that the intra firm imports of the us are positively dependent on the us tariffs  , and that the industries which have a lower tarffis shows relatively less intra firm imports

例如美國進口的一半發生在跨國公司告訴(2014年費德里科?J Diez),他的文章指定內部公司美國積極依賴美國的進口關稅,這tarffis顯示較低相對較少的行業內公司進口

This graphs highlights that there is positive relation between US tariffs and the share of the US intra firm imports

3. The Possible impact of tariffs imposed by the US.3.美國征收關稅的可能影響。

International trade can have a wider effect on the entire state of economy, as they are interdependent in terms of gdp and trade, In the beginning of 2018, the United States began to impose tariffs on all products that lead to global retaliation,of the effect can be seen in both the terms from the perspective effect on the US and on the world as a whole, the has been by far more of negative effect seen on their economy

國際貿易可以對整個經濟狀況產生更廣泛的影響，因為它們在gdp和貿易方面是相互依存的。美國開始對所有產品征收關稅,導致全球的報復,可以看到的影響在這兩個方面的角度影響美國和世界作為一個整體,一直到目前為止更多經濟上的負面影響

Vandenbussche 2017 estimates that if the united states imports were increased to 15 percent in all sectors, it would lead to the EU having facing the loss of 240 000 or more, as mentioned  the new tariffs rate have increased average US tariffs rate  that were increased from 1.5 percent in the first 5 months of 2018 to 2.6 percent by October 2018  ,a 1 percent increase in average tariffs paid equals to 20 billion to 25 billion in additional tariff cost for us importers.

There has been a negative effect of tariff seen on the exports levels as, as the global retaliation from the US tariffs acts of 2018 on the 232 aluminium tariff rates, china, Mexico, turkey and EU as well had marked tariffs, this can be seen on the graphs mentioned

China had 1billon extra tariffs imposed on us exports in 2018 as mentioned in the report by (trade partnership worldwide 2018 )

The conventional framework study of theory of price impacts of tariffs by (Stephen J. Redding, and David E. Weinstein 2019 )in their research report  mentions that the import value have declined as the tariffs  were being imposed , which after the imposition of tariffs fell to 25 to 30

As mentioned by Stephen J Redding and avid Weinstein 2019 in the report, that the tariffs  that the tariifs being levied on the imports  were costing the us consumers and companies or the firms of various sizes  that imports the goods from others as foreign goods an additional 3.2 billion dollars per month in added tax cost and another 1.4 billion per month deadweight welfare

4. Summarize the Issues Which Have Led to WTO Ruling總結導致WTO裁決的問題

The WTO  formally authorised the united states to impose tariffs of up to 7.5 billion of imports on the EU  in the long running case  that started due to the differences between the both the Boeing and air bus from the benefits that have been receiving from illegal subsidies  , However we access the WTO DSB report by the arbitrator following reason can be taken into consideration , as  The  first of June 2011, the dispute settlement body of the WTO , has taken into consideration the point given out by the appellate body for the case of the subsides , this report has been given out by the original report panel as modified by the appellate body”

世貿組織正式授權美國對歐盟征收高達75億美元的進口關稅，這一長期案件的起因是波音和空中客車從非法補貼中獲得的利益存在差異，然而我們訪問WTO雙邊帶報告仲裁員可以考慮以下原因,作為第一個2011年6月,世貿組織的爭端解決機構,已考慮上訴機構給出的消退的情況下,本報告由原報告小組發出，并經上訴機構修改。”

As seen in the report the appellate body of the WTO  DSB found that they were certain subsides provided by the European union that gave added advantage to the air bus that  has caused the displacement and significant loss sales as mentioned the against the rules  subsidies

 “As mentioned in the report of the arbitrator on sec WT/DS316/ARB 2019 the report clearly mentions the imposition of tariffs  can be majorly due to their non removal of subsides  in the report  by the WTO as found stated  “The compliance panel found that the European Union and certain member States had "failed to comply with the DSB recommendations and rulings and, in particular, the obligation under Article 7.8 of the SCM Agreement 'to take appropriate steps to remove the adverse effects or … withdraw the subsidy”.

If were to look at reports o (DW 2019 )another reason that can been seen is the WTO ruling found that the EU had supported the  Air bus with loan at subsidies zed  loans for making of new aircraft and the loan was repayable in on delivery amount to illegal assistance.  The other reason that can be attributed to the cause of the Wto ruling is the losses that US had to face due to illegal subsidies given out to the European air production company

5. Selected Product and Comment on the Reaction to Tariffs Imposition精選產品及對加征關稅的反應評論

As mentioned in the financial times report by (Jim Brunsden 2019) according to the report US is the largest market for Scotch whisky with and 1 billon turnover, the export of the scotch whisky to the UK had been zero for the past 20 years, the effect of the trade can be specifically seen in the companies to mention of Mary Queen of Scots Enterprises (Kinross) Limited have to say that this will have effect as they are into whiskeys and beer with the tariffs they will lose a lot of business

正如(Jim Brunsden 2019)在《金融時報》的報道中提到的，根據報告，美國是蘇格蘭威士忌的最大市場，有10億美元的營業額，蘇格蘭威士忌對英國的出口在過去20年里為零，貿易的影響可以具體地看到在公司提到蘇格蘭瑪麗女王企業(金羅斯)有限公司不得不說，這將有影響，因為他們是威士忌和啤酒關稅，他們將失去很多生意

As mentioned in the report by smith 2019in the courier newspaper, the single malt Scotch whisky represents more than half of the total value of UK products on the US Government tariff list which is amounting to over $460 million, which can have great effect on the market share.

In a report by the financial times 2019 the sales for whiskies to the us last year went to 1 billion, which is subject to tariffs  , the tariffs  will have a direct effect on the sales

根據《金融時報》2019年的一份報告，去年美國的威士忌銷售額達到10億美元，這受到關稅的影響，關稅將對銷售產生直接影響

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