Trade Strategies and the WTO

I.   Review

II.  Trade Strategies

A.  Autarky

B.  Protectionism

1.  Rationale for Protectionism

C.  Protectionist Tools

1.  tariff

2.  Quotas

3.  Subsidies, Restrictions, and Regulations

D.  Effects of Protectionism

III. Influencing Trade Strategies

A.  Industries and Interest Groups

B.  Contentious Trade Issues

1.  Agriculture

2.  Intellectual Property Rights

3.  Illicit Trade (The Black Market)

IV.  Trade Regimes

A.  Cooperation in Trade

B.  World Trade Organization (WTO)

1.  Purpose

2.  Three Functions

a.  Promoting International Trade

b.  Monitoring International Trade

c.  Adjudicating International Trade

3.  Becoming a Member

4.  Opposition

a.  Labor, Human Rights, and Environmentalists

C.  Regional Free Trade Areas

1.  European Free Trade Experiment