Specifically, the following critical elements should be addressed in your paper:
1. Briefly describe the facts of the current trade issue. Your response should include the parties involved and a description of the major issue under contention.
2. Explain the impact that international trade policy has on the issue. Your response should identify the specific international trade policy or policies and describe how the international policy or policies are related to the issue.
3. Describe the key theme related to the issue, justifying your response with research. For example, can it be considered a sovereignty issue? Currency? Tariff? Protectionism? With Brexit for example, the British felt that they were losing part of their sovereignty because they did not have the authority to tweak any trade deals within the EU. They believed that this inability to control their trade policy via the EU was a loss to their sovereignty. The EU’s position was that Britain agreed to be part of the trade bloc and “We trade as a bloc” and “We make these decisions as a bloc.”
4. Describe how other issues relate to or interplay with the key issue, justifying your response with research. For example, although the key issue with Brexit could be considered a sovereignty issue, this issue could domino into a currency issue. Will Britain undervalue their British pound against the Euro so that the EU will see them as a less expensive market? With respect to tariffs, there were previously no tariffs or import taxes between the EU and Britain, because they were free trade partners. Since they ended their economic connection with the EU, will the EU apply a tariff to exported goods? How will Britain react to this? Would they apply tariffs on imported goods from the EU? With respect to intellectual property, the EU and Britain have partnered in business deals (for example, with Airbus) and some intellectual property came from Britain. Will there be a squabble between Britain and the EU over intellectual property?