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International Trade Barriers
Transcript of International Trade Barriers
South Asia Free Trade Agreement (SAFTA)
European Free Trade Association
European Union (EU)
Union of South American Nations
New West Partnership (An internal free-trade zone in Canada between Alberta, British Columbia, and Saskatchewan
Gulf Cooperation Council common market Tariffs Embargo Tariffs Trade Sanction Embargo Non-tariff barriers to trade Trade Sanction A tax imposed on imported goods and services Tariffs are used to restrict trade, as they increase the price of imported goods and services, making them more expensive to consumers A government order that restricts commerce or exchange with a specified country. A form of restrictive trade where barriers to trade are set up and take a form other than a tariff. Non-tariff barriers include quotas, levies, embargoes, sanctions and other restrictions, and are frequently used by large and developed economies. A trade penalty imposed by one nation onto one or more other nations. Sanctions can be unilateral, imposed by only one country on one other country, or multilateral, imposed by one or more countries on a number of different countries. Advantages and Disadvantages Of Trade Barriers Advantages: Increased National Security Protection of Growing Industries Protection Against Other Countries Promotion of Domestic Jobs Disadvantages: Price of imported products are being raised Consumers have to pay extra and higher price. Puts a strain on firms that buy raw material from foreign countries Consumers have fewer choices Foreign governments might lose out in the international trade game References www.investopedia.com
www.ehow.com Created By Espid Conclusion Even though most countries dislike Trade Barriers, it is essential for the economy and for the benefit of international trade and also companies.