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International Trade Barriers - Coggle Diagram
International Trade Barriers
Language barrier
Distance
tariffs - taxes on imported goods,
Non Tariff barriers - regulations, licenses, trade restrictions, import quota, limit
trading blocs
trading blocs cost more to import into
NAFT, EU , APEC
NO TARIFFS IN TRADING BLOC
protectionism
national park protectionism
cultural reasons or religious beliefs
Advantages
Protects industries and jobs
protects consumers - hazardous to consumers health
Retaliation and unfair competition
national security
Disadvantages
higher prices - tariffs make things cost more as the goods have more fees to be imported
Less choices on goods as businesses are restricted from import into the country
international jobs are lost
Quotas