The owner of a fast-growing wine distribution company wants to import wine from France; however, he is not sure France is the best option. The owner comes to you and asks your opinion. You know that France, Mexico, and Korea are the best sources for obtaining this product. While your research shows wine from France is of the highest quality, the United States imposes a tariff of 8% on the wine, which makes this option non-competitive.
- Which US trade laws should you consider when selecting a source?
- Is there any way by which you can seek a reduction on the tariff? If so, how? If not, why?
- Select an alternative country (Mexico or Korea) for purchasing the wine and explain your reasons for selecting the country.