Identify and State the Historical Significance of the Following

question 51

Essay

Identify and state the historical significance of the following:
-John F. Kennedy

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Definitions:

Tariffs

Taxes or duties to be paid on a particular class of imports or exports.

Quotas

Limits set on the quantity or value of goods that can be imported or exported over a specified period.

Countertrade

A form of international trade in which goods or services are exchanged for other goods or services, rather than for hard currency.

Exports

Goods, services, or technology sent out of a country to sell in international markets, contributing to a nation's economy.