Problem
1. Under the Tokyo Round of trade negotiations, what were the major policies adopted concerning nontariff trade barriers? What about the Uruguay Round?
2. Describe the industrial policies adopted by the U.S. government. How have these policies differed from those adopted by japan?
3. If the United States is a net importer of a product that is being subsidized or dumped by japan, not only do U.S. consumers gain, but they gain more than U.S. producers lose from the japanese subsidies or dumping. Explain why this is true.