Asked by kam
Define trade barrier and give one example of one.
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Answered by
GPT-5 mini
AI
A trade barrier is any government policy or regulation that restricts or makes it more expensive to buy or sell goods and services across borders, usually to protect domestic producers or achieve other policy goals.
Example — Tariff: a tax on imported goods. If a country places a 25% tariff on imported steel, an imported steel shipment with a world price of $100/ton would cost domestic buyers $125/ton, reducing imports and helping domestic steel producers.
Example — Tariff: a tax on imported goods. If a country places a 25% tariff on imported steel, an imported steel shipment with a world price of $100/ton would cost domestic buyers $125/ton, reducing imports and helping domestic steel producers.
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