Below are two current events:
1. Recently President Trump announced new tariffs on imports of steel and aluminum. The tariffs are a 25 percent on imported steel and a 10 percent on imported aluminum.
2. From The Associated Press, April 2, 2018:
Some goods on which the Chinese government raised tariffs Monday.
25 PERCENT TARIFFS
Most goods targeted for 25 percent tariffs are varieties of pork, for which China is the No. 3 American export market.
— PORK
Fresh and chilled bone-in pork forelegs and hind legs, chilled whole and half hog heads, pork liver, chopped pork, other fresh and chilled pork
— ALUMINUM
Scrap aluminum
15 PERCENT TARIFFS
Chinese regulators also imposed 15 percent duties on apples, almonds and dozens of types of fruit
— FRUIT
Apples, fresh or dried; coconut, fresh and dried; bananas, fresh or dried; pineapple; pomegranates; mangos; grapefruit; grapes; watermelon; cherries; strawberries; dried apricots
— NUTS
Brazil nuts, cashews, almond kernels, walnuts, macadamia nuts, pine nuts
— WINE
Sparkling wine
— HERBS
Ginseng
— PIPES
Stainless steel and alloy pipe used for petroleum or natural gas, multiple diameters
Questions:
a. In which of the six components of the general environment would you categorize these events?
b. In your own words, discuss why a fertilizer company should be concerned.
c. Why should a clothing retailer want to be pay close attention to the international news and on going events related to these actions?