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What is Understanding Trade Barriers about?
There are various types of trade barriers that governments use to restrict or discourage imports. Tariffs directly increase import prices through taxes on imported goods. Non-tariff barriers include import/export licenses, quotas that limit quantities, subsidies for domestic producers, voluntary restraints, local content rules, embargoes, currency fluctuations, and trade restrictions like product standards. These barriers make foreign goods less competitive than local alternatives.
- Author
- SUMIT SHIVHARE
- Language
- EN