Group items tagged

In order to protect its domestic industries from European subsidized-sugar, Canada places high duties (tariffs) on imported sugar. This article details how local firms are benefiting due to a ruling that allows these trade barriers. While consumers would benefit from free trade because they can purchase sugar at a low price, it would have a harmful effect on domestic firms, which is why protectionist measures are put in place.

This article demonstrates the concept of equilibrium by pointing out that there is a shortage of sugar in Europe because the EU is trying to shrink the sugar industry. The shortage of sugar means there's excess demand; the supply is insufficient because of certain trade barriers and import duties. 

Venezuela's ports were nationalised in 2010 during a recession. However, now especially during the festive period imports have almost doubled. This has caused a large build up in the ports. Venezuela have just joined the trade bloc, Mercosur. This will cause a larger increase in imports due to the removing of trade barriers. Therefore, the poor infrastructure must be improved. A new container terminal has been suggested to try to cope with this.