Q. 85.0( 2 Votes )
What are trade barriers?
Trade barriers are restrictions imposed on foreign trade to control and regulate the trade in some or all commodities. It does not ensure free trading of commodities. Government may setup trade barriers to reduce the trade in some foreign commodities in the domestic market. Mostly trade barriers are set up to reduce the volume of imports to the country. Imports are the commodities and services that are brought for sale to the home country. Import taxes is an important form of trade barrier.
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