I just need to respond to the below discussion post. There is no question. Its j
ID: 424144 • Letter: I
Question
I just need to respond to the below discussion post. There is no question. Its just adding to what my peer posted below
If there was a trade cutoff around the world a few of my favorite things would no longer be accessible to me. Chocolate is produced in Asia, Africa, and Latin America. There is a specific environment for Cocoa beans to grow and unfortunately, America is not it. The next item that would no longer be available would be coffee. Coffee beans are harvested is Guatemala, Honduras, Costa Rica, Peru and many other countries except for the United States. Chocolate and coffee are like an everyday staple in America. Every morning millions of people wake up some have several cups of coffee before they even leave those just like I do, others go to the favorite coffee place for that certain brew. If coffee was no longer able to be imported the average American would be out their daily morning go to, stopping them from going to the favorite coffee shops and buying those bagels or pastries with their cups. Essentially, businesses could face shutting down if their main source of income was not available for sale.
Barbados imports goods such as gas, computers, phones, refrigerators, baked goods, wine, cars, cheese, eggs and many other products.
Wild and Wild (2016). International Business: The Challenges of Globalization. 8th edition (with MyIBLab SAC). Pearson Publishing
https://atlas.media.mit.edu/en/profile/country/brb/
Explanation / Answer
The post is a reflection of the negative consequences that would result if trade is cut off between countries by providing specific examples of the imports into the US. The result of a trade cutoff would have the following impacts on the consumption from a consumer point of view and income from a business point of view -
1. Consumers will no more have the access to several products that they consume on a daily basis, instead they need to be content with home grown products.
2. Lack of the resources and conditions to make/grow certain products in the country would lead to huge backlash from consumers as they will have to only choose from existing options.
3. Businesses will lose income on the imported products that they sell to the consumers due to which they need to stock only American products to stay in business.