Review:
Trade Barriers
overall review score: 2.5
⭐⭐⭐
score is between 0 and 5
Trade barriers refer to government-imposed regulations and restrictions that limit international trade by making it more difficult or costly for goods and services to cross borders.
Key Features
- Tariffs
- Quotas
- Embargoes
- Subsidies
- Import licenses
Pros
- Protect domestic industries from foreign competition
- Generate government revenue through tariffs
Cons
- Increase prices for consumers
- Limit choices for consumers
- Reduce efficiency in the global market