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The U.S. imposed tariffs on Chinese imports primarily to reduce its trade deficit with China, support domestic industries against foreign competition, and address concerns over unfair trade practices, such as intellectual property theft and forced technology transfers. By increasing the cost of Chinese goods, the U.S. aimed to shift production back to American companies and create leverage for fairer trade terms.

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In 2018, the U.S. imposed tariffs on a wide range of Chinese goods, initially targeting $34 billion worth of imports. Over time, the tariffs expanded to cover nearly $370 billion in Chinese goods, with rates ranging from 10% to 25%. China retaliated with tariffs on American products, impacting U.S. exports, especially in agriculture. The intervention aimed to put economic pressure on China to negotiate new trade terms.

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For the U.S.: Some domestic industries, such as steel and aluminum, saw temporary relief from competition. However, tariffs also increased production costs for many businesses reliant on Chinese imports, leading to higher consumer prices. For China: Exports to the U.S. initially slowed, but China redirected its trade to other markets and promoted domestic consumption. The overall impact on China’s economy was moderated.

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NAM Wants Trade Policy to Promote Supply Chain Resilience

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The industry group wants agreements that include market access and removal of barriers to economic engagement.

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Example: the European Central Bank (ECB) introduced negative interest rates. // Objective: combat low inflation and weak economic growth in the Eurozone --> making borrowing cheaper, encouraging spending and investment, charging banks for holding excess reserves 

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In June 2014, the ECB lowered the Deposit Facility Rate to -0.1%. This rate was reduced further over the following years, reaching as low as -0.5%. // Targeted Longer-Term Refinancing Operations offered banks negative-rate loans if they increased lending.

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Negative rates encouraged banks to lend more --> increased access to credit for households and businesses // Negative rates made the euro less attractive to investors --> depreciation --> benefited Eurozone exports by making them cheaper on the global market + boosted export-driven economies                

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The primary goal was to prevent the economy from entering a prolonged recession by boosting consumer spending, supporting businesses, and maintaining employment. The government aimed to provide direct financial support to individuals and families impacted by job losses, reduced hours, or other financial hardships due to the pandemic. Another objective was to provide assistance to businesses struggling to survive during the economic downturn, especially small and medium-sized enterprises, to prevent mass closures and maintain jobs.

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The government provided direct cash payments to individuals and families. For example, many Americans received $1,200 in 2020 and additional payments in subsequent stimulus bills. Unemployment insurance was expanded with additional weekly payments and an extended duration of benefits to support those who lost jobs due to the pandemic. For businesses, The US introduce the Paycheck Protection Program (PPP),  offered forgivable loans to small businesses to help them keep employees on payroll, ensuring that they could continue to operate despite reduced revenue.

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The stimulus package helped stabilize the economy by boosting household income and consumer spending. It prevented millions of people from falling into poverty and allowed many businesses to stay afloat. The expanded unemployment benefits were crucial in helping workers cover essential expenses.

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Environmental Protection: The main goal is to reduce greenhouse gas emissions and combat climate change by promoting cleaner, electric vehicles over traditional gasoline-powered cars.                Economic Development: The subsidy supports growth in the EV industry, creating jobs and fostering innovation in technology and manufacturing.

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The U.S. government provides federal tax credits of up to $7,500 for consumers purchasing eligible EVs, which directly reduces the cost for buyers. Many states also offer additional rebates or credits, further reducing the financial burden on consumers. These incentives vary by state and can be combined with federal credits.

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EV sales have increased significantly as a result of subsidies, making electric vehicles more accessible to a wider range of consumers. The growth of the EV industry has created new jobs and stimulated innovation in related sectors like battery production and charging infrastructure. 

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Ensuring affordable housing, promoting social stability, and addressing market imbalances in areas with high demand

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Implementing rent control involves a detailed set of regulations that are customized to suit local housing markets. These policies depend on factors such as building age, economic conditions, and local political considerations. However, its success hinges on thoughtful planning, regular updates, and complementary strategies to address broader housing challenges, ensuring both stability for renters and long-term sustainability in the housing market.

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Rent control promotes affordability, prevents displacement, and provides stability for tenants. However, its effectiveness depends on careful design to avoid negative outcomes like housing shortages and reduced property maintenance. Balancing protections for tenants with incentives for landlords is key.

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(Electronic vehicles (EVs) are used in the US for subsidies and support). The government encourages the growth of the goods industry, creates jobs, and reduces reliance on fossil fuels.

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the government gives money directly to EV manufacturers to encourage them to create new technology and produce more cars. It also funds the building of EV infrastructure, like charging stations.

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the subsidies have also encouraged more automakers to enter the EV market, increasing competition, lowering prices, and improving technology.

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The main objectives of this intervention are to improve affordability, prevent price gouging, and ensure health equity. By capping prices, the government aims to make life-saving drugs accessible to people across income levels and protect vulnerable populations from excessive costs​

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Implementation includes federal and state legislation that sets price ceilings (e.g, $100 per month for insulin). These laws apply across pharmacies, and government agencies monitor compliance. Public awareness efforts inform consumers about these protections, helping maximize the intervention's reach and impact

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The price caps have lowered out-of-pocket costs for patients, providing immediate financial relief. However, potential downsides include supply shortages if manufacturers struggle to sustain production under capped prices, and some critics argue it could deter innovation in drug development

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Direct payments were made to farmers regardless of crop prices, ensuring a predictable and stable income

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 US agricultural subsidies help to maintain the economic viability of rural areas by supporting farm incomes and encouraging investment in rural communities.

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The European Union (EU) sought to guarantee a stable, affordable supply of food for its population.

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When there is  overproduction or market crash, the EU buys up surplus agricultural goods and stores them in intervention stocks. This helps to prevent price crashes and stabilize the supply of agricultural goods.

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By providing price supports and controlling production, the CAP has contributed to the EU's food security, ensuring a steady and affordable food supply for consumers.

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Support small business to survive through loans and grants

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The US Small Business Administration provided forgivable loans to businesses to help them maintain their workforce and avoid layoffs.

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The PPP and others loans program saved millions of small business from closure. However, some particular industries still face difficult challanges despite of goverment support.

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Protect domestic industries, reduce trade deficits, and address unfair trade practices.

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In 2018, the U.S. imposed tariffs on $360 billion of Chinese goods. China retaliated with tariffs on U.S. goods. A Phase One trade deal in 2020 reduced some tariffs and included agreements on intellectual property and Chinese commitments to purchase more U.S. goods.

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Positive Effects: Short-term protection for U.S. industries like steel and agriculture, some improvements in intellectual property protections, and increased U.S. exports to China under Phase One deal. Negative Effects: Higher prices for U.S. consumers, supply chain disruptions, and negative impact on U.S. farmers due to Chinese tariffs on agricultural goods.

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Encourage domestic production, helping firms and the industry to achieve economies of scale

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More than 200 billion yuan (US$28 billion) was spent on EV subsidies and tax breaks in China over the 2009-2022 period. Purchase Subsidies - Maximum subsidy of 12,600 yuan per vehicle for battery electric vehicle (BEV) passenger cars; and 4,800 yuan for plug-in hybrid (PHEV) passenger cars, including extended-range PHEVs.Maximum subsidy of 50,400 yuan per vehicle for non-fast-charging BEV buses; 36,400 yuan for fast-charging BEV buses; and 21,300 yuan for PHEV (including extended-range) buses.Maximum subsidy of 28,000 yuan per vehicle for BEV trucks; and 17,600 yuan for PHEV (including extended-range) trucks.

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In 2022, the country sold more than 6 million EVs, accounting for half of all sales globally. There are around 500 producers and 1538 startups in EVs. 

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From 1920 to 1933, American government had been banning alcohol production, sale, and distribution. This act defined alcohol content limits and established the Bureau of Prohibition to oversee enforcement, working alongside local law enforcement agencies. Strict penalties, such as fines and imprisonment, aimed to deter violations. Moreover, limited funding and resources had made backfired. As the public continued to demand alcohol, black markets emerged, leading to a rise in organized crime and illegal operations like bootlegging, speakeasies and mafia activities in order to supply the alcohol demand.

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Example: Agricultural Subsidies in the EU

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Example: Agricultural Subsidies in the EU

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Intervention Objectives: Support farmers and ensure food security.
Outcome Analysis: Supported the agriculture sector but led to overproduction.
Implementation Details: Provided financial assistance to farmers.
Type of Intervention: Subsidies and Support.

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Example: Environmental Regulations on Emissions

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Example: Environmental Regulations on Emissions

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Intervention Objectives: Reduce pollution and protect public health.
Outcome Analysis: Emissions reduced significantly but increased operational costs for companies.
Implementation Details: Set limits on the amount of emissions for industries.
Type of Intervention: Regulatory Measures.

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Intervention Objectives: Protect domestic industries and jobs.
Outcome Analysis: Protected local industry jobs but increased product costs.
Implementation Details: Imposed tariffs on imported goods.
Type of Intervention: Trade Policy.

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Example: Stimulus Checks During COVID-19

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Example: Stimulus Checks During COVID-19

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Intervention Objectives: Boost consumer spending and stabilize the economy.
Outcome Analysis: Increased spending and helped recovery but added to national debt.
Implementation Details: Direct financial support to citizens.
Type of Intervention: Fiscal Policy.

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Example: Federal Reserve Interest Rate Adjustment

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Example: Federal Reserve Interest Rate Adjustment

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Intervention Objectives: Control inflation and stabilize the currency.
Outcome Analysis: Successfully brought down inflation rates but slowed economic growth. 
Implementation Details: Adjusted interest rates depending on economic indicators.
Type of Intervention: Monetary Policy.

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Welcome to our activity Padlet! Please follow the instructions below to complete the activity. If you have any questions, please ask your teacher for help.

• Create a post about a real-world example of government intervention in markets

• Include all required information in the designated fields: type of intervention, objectives, implementation details, and outcome analysis

• Add a relevant image, news article link, or document that supports your example

• After submitting your post, read and comment on at least two other examples, comparing and contrasting different intervention approaches