Complete the following sentence in atleast three sentences

Question

Examples of trade barriers in the global economy include

Answer 1

tariffs, quotas, and subsidies. Tariffs are taxes on imports, making foreign goods more expensive and less competitive in the domestic market. Quotas restrict the quantity of goods that can be imported, creating artificial shortages and driving up prices. Subsidies are financial aid given by governments to domestic industries, giving them an unfair advantage over foreign competitors.