List all tariff amd non-tariff barriers in International Trade.

Trade barriers are government-induced restrictions on international trade, which generally

decrease overall economic efficiency.
Trade barriers are government-induced restrictions on international trade. Man-made trade
barriers come in several forms, including:
tariffs & non-tariff barriers to trade. Tariffs are often created to protect infant industries and
developing economies but are also used by more advanced economies with developed
industries.Here are five of the top reasons tariffs are used:

1.Protecting Consumers: A government may levy a tariff on products that it feels could
endanger its population. For example, South Korea may place a tariff on imported beef from the
United States if it thinks that the goods could be tainted with a disease.

2.Infant Industries: The use of tariffs to protect infant industries can be seen by the Import
Substitution Industrialization (ISI) strategy employed by many developing nations. The
government of a developing economy will levy tariffs on imported goods in industries in which it
wants to foster growth.

3.National Security: Barriers are also employed by developed countries to protect certain
industries that are deemed strategically important, such as those supporting national security.

1.Ethical Barriers: Despite international trading laws and declarations, countries continue to
face challenges around ethical trading and business practices.

2.Cultural Barriers: It is typically more difficult to do business in a foreign country than in one’s
home country due to cultural barriers.

3.Technological Barriers: Standards-related trade measures, known in WTO parlance as

technical barriers to trade play a critical role in shaping global trade.

Types of Non-Tariff Barriers

Non-tariff barriers may take the following forms:

1. Licenses: Licenses are one of the most common instruments that countries use to regulate
the importation of goods. A license system allows authorized companies to import specific
commodities that are included in the list of licensed goods.

2.Quotas: Quotas are quantitative restrictions that are imposed on imports and exports of a
specific product for a specified period.

3.Embargoes: Embargoes are total bans of trade on specific commodities and may be imposed
on imports or exports of specific goods that are supplied to or from specific countries.
4.Import deposit: Import deposit is a form of foreign trade regulation that requires importers to
pay the central bank of the country a specified sum of money for a definite period. The amount
paid should be equal to the cost of imported goods.