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Question Description

Part 1: You are consulting for Link Snack, Inc., a firm that wants to export from the United States to Your Country. The firm wants to export packaged Jack Link’s Beef Jerky. Click on the link to see the Jack Link’s products here (Links to an external site.) (Links to an external site.). Presume each package costs $1.00.

Link Snack, Inc. needs you to find some information that will help them evaluate the profitability of exporting their products. They need to know the following information:

  1. How Your Country would classify/categorize their product for the purpose of determining import tariffs. (Tariffs may be called other names such as duties or taxes in various countries)
  2. What import tariffs would apply and how much would they be on the product.
  3. As this is a food product, any packaging and labeling requirements there would be.
  4. Read the article, “What is Counter Trade” at this link(Links to an external site.) (Links to an external site.).
  5. Visit the Observatory of Economic Complexity website(Links to an external site.) (Links to an external site.). Identify a “lesser known good” that Your Country exports (other than petroleum products).
  6. Your Country wants to countertrade that “lesser known good” you selected for US$100,000 worth of Jack Link’s Beef Jerky. The firm for which you are consulting obviously wants to obtain more than US$100,000 worth of that good. How does Link Snack, Inc. go about determining how much of that “lesser known good” they need to take in exchange? Include information that supports your recommendation.

Part 2:

The Observatory of Economic Complexity provides international trade information and does so in a manner that is easier to interpret.

Click to go the website of the Observatory of Economic Complexity – https://oec.world/en/ (Links to an external site.)

(Links to an external site.)

Select the Visualizations tab. Use selections in the menu on the left to build the visualizations needed to answer the questions below. Clicking on the boxes in the visualization can give you additional information. Note: the most recent info available in this database may be for 2017 , 2018 or 2019 in some cases.

What was the value ($s) of Your Country’s total exports in 2017, 2018 or 2019? What were Your Country’s top three exports in 2017, 2018 or 2019? For each of these top three exports in 2017, 2018 or 2019, where did your country export the largest percentage of these specific goods to (i.e., what country) and what was the percentage?

What was the value ($s) of Your Country’s total imports from the United States for 2018 or 2019? What were Your Country’s top three imports from the United States in 2018 or 2019? Discuss why you think Your Country is importing these particular products from the United States. Which of these three U.S products do you think the Country of Origin Effect would most apply to?

What was the value ($s) of Your Country’s total exports to the United States for 2018 or 2019? What were Your Country’s top three exports to the United States in 2018 or 2019? Discuss why you think Your Country is importing these particular products from the United States. Discuss why you think Your Country is exporting these particular products to the United States. Which of these three products from Your Country do you think the Country of Origin Effect would most apply to?