Tariff - Revision history

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	[[Category:Done ~~2016~~-04-30]]		[[Category:Done 2026-07-01]]
	[[File:NAFTA.png\|400px\|thumb\|right\|Figure 1. Canada, The United Stated of America and Mexico, the three countries that make up the ~~NAFTA~~ free trade area.<ref>Wikimedia Commons. [Online], Available: https://commons.wikimedia.org/wiki/File:TLC_map.png [Aug 17, 2016]</ref>]]		[[File:NAFTA.png\|400px\|thumb\|right\|Figure 1. Canada, The United Stated of America and Mexico, the three countries that make up the USMCA free trade area.<ref>Wikimedia Commons. [Online], Available: https://commons.wikimedia.org/wiki/File:TLC_map.png [Aug 17, 2016]</ref>]]


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	==Free Trade==		==Free Trade==
	Trade agreements and economic unions such as the European Union (EU) or ~~NAFTA~~ (~~North American Free Trade~~ Agreement) are designed to eliminate the barriers of trade that tariffs pose. By dropping the barriers between countries, trade becomes more efficient as the flow of goods and services can better stabilize markets in various countries. Trade agreements can be unilateral such as Canada's free trade agreement (FTA) with the EU.<ref>Global Affairs Canada. "Canada's Free Trade Agreements." [Online], Available: http://www.international.gc.ca/trade-agreements-accords-commerciaux/agr-acc/fta-ale.aspx?lang=eng, Feb 2016 [Aug 17, 2016].</ref> ~~NAFTA~~ is a FTA between Canada, Mexico and the United States, because all three countries are in close geographical proximity and have all signed the agreement, a '''free trade area''' is created.<ref>A. B. Abel, et al. ''Macroeconomics'', ''6''th ed. Toronto, Canada: Pearson, 2011, pp. ''163''</ref> In a free trade area, the member countries agree on the goods and services to be traded freely but retain the ability to make agreements with other nations outside of the free trade area.<ref>J.Black, N. Hashimzade, and G. Myles. (2009) "Free-Trade Area." [Online], Available: http://www.oxfordreference.com/view/10.1093/acref/9780199237043.001.0001/acref-9780199237043-e-1290?rskey=MpqYJD&result=3, 2009 [Aug 17, 2016]</ref> Under these agreements the various nations agree to drop tariffs on specific goods and services or groups of goods and services such as agriculture products, livestock products or energy goods.<ref>J.Black, N. Hashimzade, and G. Myles. (2009) "Free-Trade Agreement." [Online], Available: http://www.oxfordreference.com/view/10.1093/acref/9780199237043.001.0001/acref-9780199237043-e-1289?rskey=MpqYJD&result=1, 2009 [Aug 17, 2016]</ref>		Trade agreements and economic unions such as the European Union (EU) or USMCA (US-Mexico-Canada Agreement) are designed to eliminate the barriers of trade that tariffs pose. By dropping the barriers between countries, trade becomes more efficient as the flow of goods and services can better stabilize markets in various countries. Trade agreements can be unilateral such as Canada's free trade agreement (FTA) with the EU.<ref>Global Affairs Canada. "Canada's Free Trade Agreements." [Online], Available: http://www.international.gc.ca/trade-agreements-accords-commerciaux/agr-acc/fta-ale.aspx?lang=eng, Feb 2016 [Aug 17, 2016].</ref> USMCA is a FTA between Canada, Mexico and the United States, because all three countries are in close geographical proximity and have all signed the agreement, a '''free trade area''' is created.<ref>A. B. Abel, et al. ''Macroeconomics'', ''6''th ed. Toronto, Canada: Pearson, 2011, pp. ''163''</ref> In a free trade area, the member countries agree on the goods and services to be traded freely but retain the ability to make agreements with other nations outside of the free trade area.<ref>J.Black, N. Hashimzade, and G. Myles. (2009) "Free-Trade Area." [Online], Available: http://www.oxfordreference.com/view/10.1093/acref/9780199237043.001.0001/acref-9780199237043-e-1290?rskey=MpqYJD&result=3, 2009 [Aug 17, 2016]</ref> Under these agreements the various nations agree to drop tariffs on specific goods and services or groups of goods and services such as agriculture products, livestock products or energy goods.<ref>J.Black, N. Hashimzade, and G. Myles. (2009) "Free-Trade Agreement." [Online], Available: http://www.oxfordreference.com/view/10.1093/acref/9780199237043.001.0001/acref-9780199237043-e-1289?rskey=MpqYJD&result=1, 2009 [Aug 17, 2016]</ref>


	==References==		==References==
	{{reflist}}		{{reflist}}
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Jmdonev at 04:43, 4 September 2016

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[[Category:Done 2016-04-30]]
[[File:NAFTA.png|400px|thumb|right|Figure 1. Canada, The United Stated of America and Mexico, the three countries that make up the NAFTA free trade area.<ref>Wikimedia Commons. [Online], Available: https://commons.wikimedia.org/wiki/File:TLC_map.png [Aug 17, 2016]</ref>]]

<onlyinclude>A '''tariff''' is a [[tax]] on goods and services imported into a country from another.</onlyinclude> An import tariff can be levied as either an [[excise tax | ad valorem tax]] or a [[excise tax | specific tax]], either a percentage of the imported value or a set amount per unit.<ref>J.Black, N. Hashimzade, and G. Myles. (2009) "Tariff." [Online], Available: http://www.oxfordreference.com/view/10.1093/acref/9780199237043.001.0001/acref-9780199237043-e-3066?rskey=tFC1aH&result=1, 2009 [Aug 14, 2016]</ref> Tariffs are often used to limit trade between countries to stop the flow of goods from outside a country as they compete with those inside the country.<ref>Investopedia. "Tariff." [Online], Available: http://www.investopedia.com/terms/t/tariff.asp?ad=dirN&qo=investopediaSiteSearch&qsrc=0&o=40186[Aug 14, 2016].</ref> The restriction of imports into a country restricts the supply to the market resulting in an increase in the price of the restricted good.

==Free Trade==
Trade agreements and economic unions such as the European Union (EU) or NAFTA (North American Free Trade Agreement) are designed to eliminate the barriers of trade that tariffs pose. By dropping the barriers between countries, trade becomes more efficient as the flow of goods and services can better stabilize markets in various countries. Trade agreements can be unilateral such as Canada's free trade agreement (FTA) with the EU.<ref>Global Affairs Canada. "Canada's Free Trade Agreements." [Online], Available: http://www.international.gc.ca/trade-agreements-accords-commerciaux/agr-acc/fta-ale.aspx?lang=eng, Feb 2016 [Aug 17, 2016].</ref> NAFTA is a FTA between Canada, Mexico and the United States, because all three countries are in close geographical proximity and have all signed the agreement, a '''free trade area''' is created.<ref>A. B. Abel, et al. ''Macroeconomics'', ''6''th ed. Toronto, Canada: Pearson, 2011, pp. ''163''</ref> In a free trade area, the member countries agree on the goods and services to be traded freely but retain the ability to make agreements with other nations outside of the free trade area.<ref>J.Black, N. Hashimzade, and G. Myles. (2009) "Free-Trade Area." [Online], Available: http://www.oxfordreference.com/view/10.1093/acref/9780199237043.001.0001/acref-9780199237043-e-1290?rskey=MpqYJD&result=3, 2009 [Aug 17, 2016]</ref> Under these agreements the various nations agree to drop tariffs on specific goods and services or groups of goods and services such as agriculture products, livestock products or energy goods.<ref>J.Black, N. Hashimzade, and G. Myles. (2009) "Free-Trade Agreement." [Online], Available: http://www.oxfordreference.com/view/10.1093/acref/9780199237043.001.0001/acref-9780199237043-e-1289?rskey=MpqYJD&result=1, 2009 [Aug 17, 2016]</ref>

==References==
{{reflist}}