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proctectionism
protecting domestic firms from foreign competition
quotas
a limit on total imports of a good
e.g. Brazil imposing import quotas on ethanol from USA
non tariff barriers
using differences in regulation to protect domestic industries
e.g. Japan only has a specific kind of ski because ‘special’ snow
tariffs
a tax on imports
export subsidies
when gov pay for part of the production but specifically for exports
e.g the EU has accused China of subsidising its electric vehicles
logic chain for quotas
a country sets a total limit on imports of a good - domestic consumers are forced to use domestic products - this reduces the total amount of imports which improve the current account - improves employment in those industries
logic chain for export subsidies
the gov pays for part of the costs for exporting firms - this reduces export prices - making the country more internationally competitive - this increase X and domestic output
