What are the different types of trade barriers?

There are several types of trade barriers, including:

1. Tariffs: These are taxes or duties imposed on imported goods, making them more expensive and less competitive in the domestic market.

2. Quotas: These are limits on the quantity or value of goods that can be imported into a country. Quotas restrict the amount of foreign competition in the domestic market.

3. Embargoes: These are complete bans on the import or export of certain goods or services between countries. Embargoes are often imposed for political or security reasons.

4. Subsidies: These are financial assistance or incentives provided by the government to domestic industries, giving them a competitive advantage over foreign competitors.

5. Standards and regulations: These are technical requirements or quality standards imposed on imported goods, which can create barriers for foreign producers who may not meet these requirements.

6. Administrative barriers: These include complex customs procedures, licensing requirements, and bureaucratic red tape that can hinder the smooth flow of goods across borders.

7. Currency manipulation: This occurs when a country deliberately devalues its currency to make its exports cheaper and imports more expensive, giving its domestic industries an advantage.

8. Intellectual property rights violations: These involve the infringement of patents, copyrights, trademarks, or trade secrets, which can discourage foreign companies from entering a market or protect domestic industries from foreign competition.

These trade barriers can be used by countries to protect domestic industries, promote national security, or address trade imbalances. However, they can also hinder international trade and economic growth.