International Trade Terminology Clarifications
Classified in Economy
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Definitions and Concepts
- Freight forwarders are licensed specialists in traffic operations.
- An Export Management Company is an independent marketing intermediary.
- A duty that represents a certain percentage of the value is an ad valorem duty.
- A nontariff barrier (NTB) includes all of the following except: ad valorem duty.
- A nontariff barrier (NTB) is a hidden trade barrier. TRUE
Economic Factors and Trade Issues
Currency Impact
- A strong U.S. dollar translates into less affordable prices in export markets.
- If the dollar, the yen, or the euro becomes seriously valued, it affects production by shifting production among different sites.
Trade Barriers and Subsidies
- Agricultural subsidies are particularly controversial because of their impact on countries