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Methods of trade restrictions

Answer Text:
Trade restrictions:
These are deliberate measures by the government to limit the imports and exports of a country
Methods of trade restrictions:
-Tariffs which include taxes levied on both import and export. It can be used to increase or
decrease the level of both import and export
-Quotas which is the restriction on the quantity of goods to be either imported or exported.
-Total ban (zero quota) where the government issues a direction illegalizing either the import or export of the products
-Complicated import procedure in order to discourage some importers from importing
-Subsidies on locally produced goods to discourage imports
-Legislation against importation of certain goods
-Setting the standards of products to be imported