International trade barriers

This trade barrier limits the number of products that can be brought into a country.

• Tariff

• Quota

• Embargo

• Subsidy

This is a tax on imports that is used to increase price of foreign products and raise government revenue. 

• tariff

• quota

• subsidy

• embargo

This is the most restrictive of the trade restrictions a nation can use to close off all importation of a product.

• tariff

• quota

• subsidy

• embargo

What is a Tariff?

• A tax on imported and exported goods

• A price marked on goods

• Profit made from manufactured goods

Which do you want more of?

• Imports

• Exports

• None

Read the following claim.

Tariffs can weaken the relationships between countries.

Which selection from the article BEST supports the claim above?

• The impact of a tariff depends on the size of the country that imposes it.

• Therefore, both countries' trade policies can have a significant impact on the price of cocoa on global markets.

• Finally, the amount of trade in the product between the countries would decrease.

• For a "large" country, the benefits of a tariff are mixed. Buyers within the country face higher prices.

Why do governments use tariffs?

• To protect domestic industries and jobs

• To raise revenue

• Both 1 & 2

• To increase exports

A standard for a product quality and safety, import licensing requirements or bureaucratic procedures for importing a product.

• tariff

• non-tariff barrier

• embargo

• trade wars