Question

List and briefly describe 3 barriers to International Trade.

Answer 1

Free trade is about removing barriers to international commerce. Tariffs, quotas, and nontariff barriers are the most common barriers to commerce.

A tariff is an import tax that is levied by the federal government and that increases the consumer's price for the good. Tariffs, also known as tariffs or import duties, usually aim first to restrict imports, and secondly to increase revenues.
A quota is a cap on the quantity of some form of good that can be imported into the country. A limit can be imposed either willingly or legally.

Tariffs come in different forms, mostly according to the motivation, or rather the motivation stated. For example, a tariff may be levied to bring the price of the imported good up to the level of the good produced domestically. This so-called scientific tariff— which is anything but for an economist — has the stated objective of equalizing the market, and thus "leveling the playing field," between foreign and domestic producers. User loses in this game.

Nontariff barriers include quotas, product content or quality regulations and other conditions which impede imports. Product standards are one of the most commonly used nontariff barriers, which may serve as "barriers to trade." Certain nontariff barriers include packaging and shipping rules, harbor and airport licenses, and onerous customs procedures, all of which can either have valid or simply anti-import purposes, or both.