Question

What is a recent trade barrier (within the past year) the United States has put on countries or areas? Describe it and what type of barrier. Do not mention the China trade barrier since this is the most well-known barrier.

Answer 1

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Introduction

Trade barriers are government-induced restrictions on international trade. Economists generally agree that trade barriers are detrimental and decrease overall economic efficiency; this can be explained by the theory of comparative advantage.

Abstract

1) Trade barriers cause a limited choice of products and, therefore, would force customers to pay higher prices and accept inferior quality.

2) Trade barriers generally favor rich countries because these countries tend to set international trade policies and standards.

3) Economists generally agree that trade barriers are detrimental and decrease overall economic efficiency, which can be explained by the theory of comparative advantage.

4) Trade barriers are government-induced restrictions on international trade.

Man-made trade barriers that are common come in several forms, including:

• Tariffs
• Non-tariff barriers to trade
• Import licenses
• Export licenses
• Import quotas
• Subsidies
• Voluntary Export Restraints
• Local content requirements
• Embargo
• Currency devaluation
• Trade restriction

Recent trade barrier the United States has put on countries or areas

he United States Department of Commerce’s Trade Agreements Compliance Program is a vital part of the United States government’s efforts to reduce unfair foreign government-imposed trade barriers, including TBTs.

Barriers (tariff and non-tariff) U.S. companies face when exporting may include:

• Particularly high tariffs for certain products
• Restrictions on selling to the government of the country
• Import licensing requirements
• Anti-dumping and countervailing duty measures
• Product bans
• Any quarantine measures for agricultural products
• Foreign governments that prohibit participation in the rule-making process
• Rules that discriminate against U.S. products or are unnecessarily trade-restrictive
• Rules that are inconsistent with relevant international standards

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