Trade Protectionism

Despite the advantages of free trade countries may wish to restrict imports for various reasons this can be done through different methods.

1. Tariffs This is a tax on imports.

2. Quotas This is a physical limits on the quantity of imports

3. Embargoes This is a total ban on a good, this may be done to stop dangerous substances

4. Subsidies If a govt subsidises domestic production this gives them an unfair advantage over competitors. This is quite common

5. Administrative barriers