When is foreign business prohibited under US law?

The video tutorial explains U.S. trade restrictions, focusing on embargoes and targeted sanctions set by the Department of Treasury's Office of Foreign Asset Control. Embargoes completely prohibit trade with certain countries like Iran, Sudan, and Cuba, while targeted sanctions allow limited trade with nations such as North Korea and Syria. Specially designated entities require permits for business dealings due to their potential role in circumventing sanctions. The regulatory framework aims to control trade based on human rights and other standards.

What is the most severe form of trade restriction imposed by the U.S. Department of Treasury?

• Trade Agreements

• Tariffs

• Embargoes

• Quotas

Which countries are currently under a U.S. embargo?

• North Korea and Syria

• Iran, Sudan, and Cuba

• Russia and China

• Venezuela and Iraq

What is a characteristic of targeted sanctions?

• They are set by the United Nations

• They are only applied to European countries

• They require approval for limited trade

• They allow unlimited trade

Why might a U.S. company need a permit to trade with certain entities?

• The entities are part of a free trade agreement

• The entities are seen as shell companies

• The entities are based in allied countries

• The entities are involved in humanitarian aid

What factors influence the U.S. to impose trade restrictions?

• Human rights violations

• Economic growth

• Tourism rates

• Cultural exchanges