What's it: Non-tariff barrier is an obstacle to restricting international trade through non-tax or duty instruments. Together with tariff barriers, they form trade barriers. Non-tariff barriers have an impact on the flow of goods into and out
Trade Restriction
Infant Industry Argument: Nurturing Domestic Industries (Reasons, Criticisms, Examples)
What's it? The infant industry argument is an economic rationale used in international trade to justify trade protectionism. The idea behind this argument is that a new domestic industry is vulnerable to competition from established players in the
Import Tariffs: Taxes, Types, Impact (Pros & Cons)
What's it: An import tariff is a tax imposed on the price of imported goods. The government usually charges tariffs as a percentage of the price of imported goods. Alternatively, the tariff is levied as a fixed cost for each unit of goods imported,
Trade Protection: Shield Domestic Economy (Reasons, Pros, Cons & Types)
What's it: Trade protection is a government policy used in international trade to limit the flow of exports and imports of goods and services. Protection takes various forms, such as import tariffs, subsidies, quotas, labeling, product safety, and
Import Quota: Protection vs. Price Hikes – Types, Pros and Cons
What's it? An import quota is an import policy that limits the quantity of product imports over a certain period. The government implemented it to protect domestic industries that were vulnerable to pressure from imported products. It is also
Trade Restriction: Impact on Consumers & Businesses (Reasons, Types)
What's is: Trade restriction refers to the various barriers that make the flow of goods and services between countries immobile. If the barriers come from government policies, we call it trade protection. Trade restrictions affect the demand