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Boeing and Airbus: Trade Barriers and Governments Role
Treaties, tariffs, taxations, and trade barriers limit free international trade. The impact of these limitations on global business is vast. Moreover, the governments role is considerable, as seen from the example of Boeing and Airbus. Trade barriers are crucial for the financial prosperity of countries, as they encourage international trade. It is essential to examine trade barriers benefits, flaws, and ramifications to see their influence on larger businesses.
Discussing the governments role in the case of Boeing and Airbus is vital. The two companies Boeing and Airbus, used to compete in supplying midair planes for the U.S. Department of Defense (Miller & Michaels, 2010). Boeing condemned Airbus for receiving more financial aid from the government, while the government stated that Boeing received the same support. This incident led to the conflict involving the EU and the U.S. government. In sum, the government should not have encouraged the rivalry between these two business giants to avoid unnecessary claims. Furthermore, the advantages of trade barriers include tax benefits and financial support for domestic companies. Reversely, the disadvantages of trade restrictions are a limited variety of goods and services and economic decline (Calberg, 2021). Trade barriers encourage domestic trade but lead to consequences such as the high administrative cost of tariff protection, the economic rivalry between countries, and limitations on scientific and technological progress (Zhu et al., 2021). Therefore, trade barriers have more flaws than benefits from a global business venture perspective.
Overall, trade limitations lead to financial ramifications and economic decay. The role of the government remains vast in international trade regulations, as it might take a clear stance on supporting or rejecting trade barriers. The case of Boeing and Airbus demonstrates the governmental impact that created confusion and depicts the effect of trade barriers. It is possible to state that trade restrictions limit the variety of production and prevent economic development.
References
Calberg, J. (2021). Interprovincial trade barriers in Canada: Options for moving forward. The School of Public Policy, 14(23), 1-16.
Miller, J. W., & Michaels, D. (2010). WTO condemns Airbus subsidies. WSJ. Web.
Zhu, X., He, C., & Gu, Z. (2021). How do local policies and trade barriers reshape the export of Chinese photovoltaic products? Journal of Cleaner Production, 278, 1-4.
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