What are the different ways in which tariffs are levied in the United Essay

What are the different ways in which tariffs are levied in the United States and what are the various types of nontariff barriers imposed in the United States - Essay Example Protection is achieved by raising the price of imported products so that they cost the same as those produced domestically. The government computes the tariffs in two main ways. The Ad Valorem, which means â€Å"On value,† involves tax that is levied as a fixed percentage of the value of the imported commodity. Currently, the U.S collects 2.5% on imported automobiles. Therefore, if the country imports $100,000 Hyundai automobiles, then the government collects $2,500 in tax (Suranovic 2012).Specific tariffs involve levying a fixed amount of tax on each unit of the imported product sold without regard to the selling price. In some cases, the tariffs imposed may be a combination of the specific and Ad Valorem (Webb 2011). For example, a specific tariff of $0.51% is levied on imported wristwatches in the U.S coupled with a $6.25% ad valorem tariff on the case and the strap. A 5.3% ad valorem tariff is also imposed on the battery (Suranovic 2012). The tariffs levied on imports vary depending on the commodities, for example, goods from a country with the status of â€Å"most-favored† nation may i ncur a different tariff compared to products from other trading partners. Non-tariff barriers include rules and regulations geared to keeping foreign goods out of the domestic market. They include specific limitations on trade, such as quotas. Quota refers to limiting an amount of import, for example, the U.S allows 1 million tons of sugar to be imported and not more than that (Bairstow 2011). The second barrier involves customs and administrative procedures such as antidumping practices and valuation systems. The implementation of standards, that is, packaging, labelling and other standard disparities are other barriers to trade that are incorporated in the U.S (Bairstow 2011). The government’s participation in trade through export subsidies, procurement policies, countervailing duties and domestic assistance programmes

Sufficiency Economy Philosophy organization Essay

Sufficiency Economy Philosophy organization - Essay Example It is now familiarly known as sufficiency economy principles. Sufficiency Economy principles that was promulgated and implemented by the King of Thailand is largely grounded on the principles of Buddhism which is likewise the major religion in the region (SufficiencyEconomy.org 2006; Leekpai 4). This ideology together with the commonly observed persistence of poverty generated a more fitted strategy of addressing such dilemma. Sufficiency economy as a long-term shot for a sustainable program is more like making choices in the midst of scarcity (Parkin 12). In which case, the citizens of Thailand were encouraged to accept trade-offs for the benefit of the majority, and to avoid the dangers of succumbing to times like the busted economy in 1997 to 1998 when real GDP growth was at negative 6.1 (-6.1), and Real GDP growth per capita was at negative seven point one (-7.1) (Warr 5). This particular situation is exactly in contrast to the economic boom enjoyed in the previous years. But, almost everyone knew that was hugely brought about by foreign i nvestment. In other words, when the investors departed, they left carrying along with them their capital plus profit, busting the economy of its capitalizations. Thus, it can be rationalized that the King's sufficiency economy theory is accurate. ... According to the author,"Positive growth was achieved in all subsequent years to 2003 (Phase IV), but an average rate of only 3.3 percent (1999 to 2003)" (Warr 5). The virtues of King Bhumibol Adulyadej's were of essence to the folks, business and emergent economies (Hewison v). It rest upon the conventional virtues of Buddhism's modest ways of living that emphasized the attitude of self-controlled expenditures, logical demeanor in living, self-preservation, and knowledge and righteousness, which lead to contentment, astuteness, serenity, and paradise. Research Questions 1. Did the participants understand the way with which Sufficiency Economy Philosophy is applied to their organization 2. What is the present level of understanding among the different organizations Reference Isarangkun, Chiraya and Pootrakool, Kobsak. Sustainable Economic Development Through The Sufficiency Economy Philosophy. http://www.sufficiencyeconomy.org/en/files/3.pdf rets: 8/5/08. Hewison, Kevin. "Thailand Human Development Report. Sufficiency Economy and Human Development." Journal of Contemporary Asia 38.1 (2008): 212+. Questia. 5 Aug. 2008 . Leekpai, Chua. "A Better Future Together." Presidents & Prime Ministers Jan. 2000: 4. Questia. 5 Aug. 2008 . Parkin, Michael. Microeconomics. 4th ed. England:Addison-Wesley. 1998. Walker, Andrew. "The Rural Constitution and the Everyday Politics of Elections in Northern Thailand." Journal of Contemporary Asia 38.1 (2008): 84+. Questia. 5 Aug. 2008 . Warr, Peter, ed. Thailand beyond the Crisis. London: Routledge, 2004. Questia. 5 Aug. 2008