Intro management

ISG International Business School

ONLINE OPEN BOOK FINAL ASSESSMENT – FALL 2021

Name: _________________________________________________

International Business Law

LAW400

Prof. Henry

Date: 14 December 2021

Start Time: 10h00

End Time: 12h30

Duration: Two-and-a-half-hours (150 minutes)

Two Sections

First section: Five essay questions.

100 Marks: Each essay equals 20 marks for a total of 100 marks

Second section: Bonus question. Optional

10 Marks for Optional Essay

Total Marks and Time

• 100 Marks in Total + 1 bonus question

• Total Time: Two hours and 30 minutes (150 minutes)

Follow These Simple Instructions

Create or “Save As” a Word Document (.docx) on Your Hard Drive

Title of Word Document: YourName_IBLAW Final

When Completed, Upload Your Final Exam to the Teams Folder by 12h30

Double Grading

International Business LAW

LAW 400

Final Exam

14 December 2021, 10h00-12h30

Prof. Henry

For ISG office use only

Not to be completed by student

Name of Student: _________________;         Name of Second Grader: ________________

Five Essay Questions (20 Marks Each)

Answer five questions from the six questions below

Do Not Answer All Six Questions

Answer in essay style (100 words – 200 words)

In your response, cite examples from the articles to support your arguments.

Use Charts and Diagrams

Check Spelling, Grammar and Punctuation

Write Legibly

Imports and exports

1. Why are tariffs imposed on the goods imported into a country? Why does the World Trade Organization (WTO) think tariffs represent a restraint on free trade? Why are some exports deemed illegal?

The WTO has found the United States broke its rules in imposing tariffs on Spanish olives. The USA imposed tariffs of 44% on black olives in August 2018, The European Commission, which oversees trade policy for the EU, said annual olive exports to the USA from Spain had dropped by 60% because of the tariffs. The EU brought the complaint to the WTO in 2019. The WTO recommended that the USA drop the tariffs. Louis Plano, Spain’s agriculture minister, described the WTO ruling as “very positive for the Spanish black olive sector, and very good news for the agricultural sector as a whole. Farmers were going out of business.” Plano said exports of black olives from Spain to the USA should return to the pre-2019 levels before the tariffs were imposed. However, Plano said it would take time because some American housewives have found substitutes for black olives.

Regional Blocs

1. Compare and contrast the level of regional integration between the two largest regional blocs in the world, the European Union and the United States-Mexico-Canada Agreement (USMCA, known as NAFTA). If the UK were to join NAFTA, what customs laws would have to change (refer to article below)?

The UK hopes to join the United States-Mexico-Canada Agreement (USMCA, known as NAFTA). However, legal experts questioned the legalities of the transatlantic move and whether it is legally possible for the UK to join a regional trade pact that was located on a different continent. Meanwhile, trade and commerce are expected to increase. The three Americas countries would benefit if the UK became the fourth member state of NAFTA. It was estimated that NAFTA membership would improve the GDP (gross domestic product) of the UK. Apart from the questionable legality of joining the Americas pact, the UK would run the risk of further damaging its relationship with the EU. Having quit the EU, the UK now believes that membership in NAFTA would give it a much greater advantage in international trade.

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