Answer the following questions for the U.S. and Russia: Does the country have a trade embargo...

Answer the following questions for the U.S. and Russia:

Does the country have a trade embargo on any countries? If so, why?

Are there tariffs, quotas, voluntary export restraints (VER), and other types of trade restrictions on certain goods and services?

Solutions

Expert Solution

Sanctions are related to trade, science ,military ,political, legal embargoes are total or partial restrictions on economic activities between countries.There are several countries that US has sanctions and embargoes like Iran,North Korea,Sudan,Syria , Cuba.The Us issued embargo against Iran in 1979 when a group of students attacked the US embassy in Tehran.The invasion of North Korean forces in South korea in 1950,made US impose embargo against North Korea.US issued embargo against Syria for involvement in terrorism.Similar was with Sudan for involvement in terrorism.Embargoes against Cuba was put during cold war and Cuba's alliance with USSR.US has imposed many sanctions and embargoes on Russia since 2012 aimed at bringing specific changes in Russian behaviour .Another reason is to impose cost and deter aggressive activities in future.

US companies face a number of tariff and non tariff barriers when exporting to Russia.Nearly all US food and agricultural exports were banned in Russia in reaction to sanctions imposed. It has become increasingly difficult for US technology companies to export goods and services to the Russian market.Similarly it has become difficult in auto and aviation sector to sell US products in Russia.

Rahul Sunny answered 9 months ago

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