ECO 372 Week 5 Individual - International Trade and Finance Speech

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Assume that you have been appointed as the Speaker of the House. You must deliver a speech about the current state of the U.S. macroeconomy to a number of amateur reporters who are unfamiliar with economics.

Prepare a 750- to 1,050-word speech in simple terms and concepts that focus on international trade and foreign exchange rates.

Integrate a summary of your answers to the following questions and cite external research to further justify your facts:

• What happens when there is a surplus of imports brought into the U.S.? Cite a specific example of a product with an import surplus, and the impact that has on the U.S. businesses and consumers involved.

• What are the effects of international trade to GDP, domestic markets and university students?

• How do government choices in regards to tariffs and quotas affect international relations and trade?

• What are foreign exchange rates? How are they determined?

• Why doesn’t the U.S. simply restrict all goods coming in from China? Why can’t the U.S. just minimize the amount of imports coming in from all other countries?

International Trade and Finance Speech

In the recent past, international trade has grown over to become an integral part of the economy for any country. Imports and exports constitute the international trade. A country that has more imports than exports is referred to as a net importer while one that has more exports than imports is referred to as a net exporter (Colander, 2010).
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