I am interested in any comments you may have. This is a really rough draft.
[Draft] Tariffs for Developing Nations
Category: Advancement of Industry (?)
Area of effect: Protective Tariffs (?)
Description:
The World Assembly,
Applauding the attempt of impoverished and undeveloped nations to advance their own industry;
Recognizing that these nations may have to compete with other nations who may have cheaper prices;
Realizing that these nations’ economies could be devastated by such competition at the early stages of their advancement of industry;
Acknowledging that allowing any tariff in an impoverished nation may stifle any attempt of another nation to sell products in said nation;
Believing however, a reasonable tariff during the early stage of any given nations advancement of industry would better our world and our international economy as a whole. This is because the once the advancement of industry is reasonably paced the tariffs can be lifted and free trade can resume again, but with a more economically and industrially sound nation;
Hereby,
1. Mandates that:
a) In impoverished and countries that are just beginning to develop their industry a reasonable tariff may be set. (Impoverished nations are nations whose economy is in great jeopardy, are incredibly economically unstable (hence are in a depression or recession as an example), or have an incredible amount of inflation (to exceed 10% in 5 years). Developing countries are defined as countries that either have never made an attempt to advance their industry or have made a past attempt and failed.)
b) The tariffs tax at any given time may not exceed more than 8% on imported items.
c) The items to be taxed are only those that the taxing country is already making. Thus, if a country was importing automobiles into a country that make uranium, the country that was receiving the automobiles could not tax the automobiles.
d) Any tariff can last for a maximum of only 5 years on any given product.
2. This will not restrict the rights of nations in any of the following ways:
a) Nations that are importing items into impoverished and developing nations may lower the price of their item to increase competition if they wish.
b) Developing and impoverished nations may not set these tariffs if they wish.
c) Put a lower tax on any item in any tariff than that in 1b.
d) Not industrially develop if they wish.