Problem
1. The terms trade creation and trade diversion are often applied in the context of assessing the impact of developed countries' tariff preferences for the products of developing countries (the Generalized System of Preferences). How can these terms be useful in the GSP context?
2. What expected impacts of further integration in the EU could be detrimental to the United States? What expected impacts could be beneficial? In general, do you think the United States should be enthusiastic or worried about further integration in Europe? Why?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.