2.2 Trade barriers

Trade barriers

________ exist when countries have different standards for the way products are used or how they perform.

foreign competition

The theory or practice of shielding domestic industries from ________, often through trade barriers such as tariffs.

Canada

Its purpose is to ensure that all forward Investments are reviewed to determine how they will benefit ________.

Time zones

________ are another barrier to international trade.

Difference

________: extra revenue generated by a tariff goes to the domestic government.

World Trade Organization

The ________ oversees the rules of global trade.

trade quota

A(n) ________ is a government- imposed limit on the amount of product that can be imported in a certain period of time.

Difference

extra revenue generated by a tariff goes to the domestic government

Trade embargoes

Completely Banning trade between two countries

Trade Sanctions

Limiting trade of specific products or with specific companies or individuals