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refers to a situation where a government does not attempt to restrict what its citizens can buy from another country or what they can sell to another country.
a tax leveled on imports that effectively raises the cost of imported products relative to domestic products.
Why do governments impose tariffs
increase government revenues, provide protection to domestic procedures against foreign competitors by increasing the cost of imported foreign goods, and to force consumers to pay more for certain imports.
Voluntary export restraint (VER)
a quota on trade imposed from the exporting country's side, instead of the importer's, usually imposed at the request of the importing country's government.
Local content requirement
a requirement that some specific fraction of a good be produced domestically.
Administrative trade policies
administrative policies, typically adopted by government bureaucracies, that can be used to restrict imports or boost exports.
concerned with protecting the interests of certain groups within a nation, protecting jobs and industries, national security, retaliation, protecting consumers, and furthering foreign policy objectives.
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