Trump

Definition

Trade barriers are government-imposed restrictions on international trade, designed to protect domestic industries from foreign competition. These can include tariffs, quotas, embargoes, or stringent regulations.

Related terms

Tariffs: Taxes imposed by a government on imported goods to increase their price and make domestic products more competitive.

Quotas: Limits set by a government on the quantity of a certain good that can be imported or exported during a specific time frame.

Embargoes: Official bans on trade with particular countries or the exchange of specific goods, often used as political tools