Studied by 2 people
trade protection
a deliberate attempt by the government to safeguard domestic producers from foreign competition by use of barriers of trade
types of trade protection
tariffs
quotas
subsidy (export subsidy)
administrative barriers
tariffs
a special tax imposed on imported goods and services
to discourage competition (imports)
to raise revenue
to protect domestic industries
non-tariff barriers to trade
quotas
voluntary export restrictions
subsidies
regulatory & technical standards
government purchasing policies
quotas
quantitative restrictions on imports
subsidies
financial assistance to local firms to help them compete against foreign rivals by lowering the costs of production for domestic suppliers
production subsidies
export subsidies
production subsidies
help reduce the production costs for domestic firms
export subsidies
targeted at protecting specified export-oriented firms
administrative barriers
bureaucratic standards & regulations imposed on foreign firms in order to protect domestic firms/consumers
embargoes
exchange controls
embargoes
(administrative barrier)
bans on trade within a certain country
often due to political/economic disputes
exchange controls
(administrative barrier)
restrictions on the quantity of foreign exchange that can be brought or sold by domestic residents
Note
Flashcard