International Economics: Analysis of US Trade and Import Policies

This essay provides an analysis of US trade regulations and import policies, examining the complex web of policy objectives and diverse regulatory measures employed by the United States. It delves into the balancing act between trade and security issues, highlighting the roles of US legislators and administrators in international trade and development. The essay explores the US import policy, emphasizing its focus on maintaining international security while facilitating the flow of international goods in accordance with established rules and regulations. It discusses the use of quotas, including absolute and tariff-rate quotas, and their impact on importing goods and services. Furthermore, the essay outlines various exemptions, customs procedures, product safety measures, labeling requirements, and documentary requirements that play a significant role in international trade. It references scholarly articles to support its analysis of import competition, trade policy effects, trade liberalization, and the impact of regulations on international trade.

Running head: INTERNATIONAL ECONOMIC
International economic
Name of the student
Name of the university
Student ID
Author note

1INTERNATIONAL ECONOMIC
Analysis of trade regulation:
At first it is required to understand the meaning of trade regulation which clearly
states a set of rules or principle including the different tactics of government method of
deceptive acts of business practices which might or might not fair. Taking about the US trade
policy it can be said that it is a complicated web like structure of policy objective and diverse
regulatory. It aims at target for achieving a multiple political, economic and social
considerations. It also aims at striking a balance in between the trade and security issues. The
US legislators and administrators are often involved in the complex goals of international
trade and development (Goldberg & Pavcnik, 2016).
Import policy of US:
The US import policy is one which is involved in balancing both the security and
trade. Other than maintaining the international security and peace it also keeps in account that
the international goods are flown inwards thereby keeping in mind that all the rules and
regulations are maintained. In order to maintain the internal trade the US also inculcates the
unilateral, bilateral also the multilateral arrangement for the trading purpose and also ensures
that all the rules and regulations are fulfilled while trading is done globally, it thereby also
preserves the security and integrity of the companies associated with them (Xiong & Beghin,
2017).
Analysis of impact of import policy on United States:
Also there are quotas which are employed for US import policy, these are absolute
and tariff rate, out of the tariff rate quotas are employed in importing goods and services at a

2INTERNATIONAL ECONOMIC
certain specified period of time at a much subsidised rate of duty charges which is found to
be very beneficial to both the parties. In case there is import of product exceeding the upper
limit the duty charges are thereby increased because the reduced rate of duty charges are only
employed for a certain quantity of importing the products. In case of certain dairy products
the import is done at a certain quota rate without any kind of import license. Depending upon
the classification of the items almost every good under the HTSUS imported in the US are
made duty free thereby enhancing import more and more by leaps and bounds. Sincere
impacts are observed on the rate of duty, eligibility for special programmes, admissibility,
and quota, procurement by government agencies and marking required and most importantly
upon the country of merchandise imported. Depending upon the origin of the country from
where the merchandise is imported from, under the most favoured nations are they
merchandises are dutiable which are referred to as the normal trade relation nowadays
(Acemoglu et al., 2016). There are various other exemptions under which the duty free duty
free status is made which plays are very significant role in the market of international trade
and development. These might include the following point stated as under:
1) Customs Procedures- The custom and border protection primarily aims
preserving the border line of the US which facilitates the import of goods and
other products from any other country. It involves several advanced techniques
and technologies.
2) Product Safety – For the purpose of protecting the safety of the products the
CPSC recommends that the manufacturers should practice the CPSC mandatory
standards and the private sector mandatory standards.
3) Requirements for labelling and markings – One of the most important feature
to be discussed is that whichever article is imported from any other country to the
US must have a very clearly stated marking as in the nature of the article allows

3INTERNATIONAL ECONOMIC
the purchaser to understand very clearly about the manufacturer of the imported
article thereby avoiding any confusion in its import in the US (Pierce & Schott,
2016). In case of article without having any individual markings on them are an
exemption to this law stated.
4) Documentary Requirements – The documents which are required for permitting
the import of the products must be 15 days of calendar dates within which the
product brought into the US. Many other things like the airway bills, lading bills
and carriers valid and appropriate documents are required or making entry into the
country are a must. Packing list and the commercial invoice are also taken into
consideration during importing them into the US from any other country. Entry
manifest like entry making documents are also a must which must be carried with
the seller during the time of import (Acemoglu et al., 2016)

4INTERNATIONAL ECONOMIC
References list:
Acemoglu, D., Autor, D., Dorn, D., Hanson, G. H., & Price, B. (2016). Import competition
and the great US employment sag of the 2000s. Journal of Labor Economics, 34(S1),
S141-S198.
Goldberg, P. K., & Pavcnik, N. (2016). The effects of trade policy. In Handbook of
commercial policy (Vol. 1, pp. 161-206). North-Holland.
Pierce, J. R., & Schott, P. K. (2016). Trade liberalization and mortality: Evidence from US
counties (No. w22849). National Bureau of Economic Research.
Xiong, B., & Beghin, J. (2017). Disentangling demand-enhancing and trade-cost effects of
maximum residue regulations. In Nontariff Measures and International Trade (pp.
105-108).