What are the main types of tariff barriers?

The main types of tariff barriers are as follows:

1. Ad Valorem Tariffs: These tariffs are levied as a percentage of the value of the imported goods. For example, if a country imposes a 10% ad valorem tariff on a particular product, the importer will have to pay an additional 10% of the product's value as a tariff.

2. Specific Tariffs: Specific tariffs are fixed amounts of money imposed on each unit of imported goods. For instance, a country may impose a specific tariff of $5 per unit of a particular product, regardless of its value.

3. Compound Tariffs: Compound tariffs are a combination of ad valorem and specific tariffs. They involve both a fixed amount per unit and a percentage of the product's value.

4. Tariff Rate Quotas (TRQs): TRQs establish a two-tiered tariff system. A lower tariff rate is applied to a certain quantity of imports, known as the quota, while a higher tariff rate is imposed on any imports exceeding the quota. This mechanism aims to protect domestic industries while allowing limited imports.

5. Prohibitive Tariffs: These tariffs are set at such high levels that they effectively prohibit the importation of certain goods. Prohibitive tariffs are often used to protect domestic industries from foreign competition.

6. Export Tariffs: Export tariffs are imposed on goods leaving a country. They are used to restrict the export of certain products, protect domestic supply, or generate revenue for the exporting country.

7. Import Licensing: Import licensing involves the requirement of obtaining a license or permit from the government to import specific goods. This barrier allows the government to control the quantity and quality of imports.

8. Embargoes: Embargoes are complete bans on the import or export of certain goods or services. They are usually imposed for political or security reasons, such as during times of conflict or to pressure a particular country.

These tariff barriers are implemented by governments to protect domestic industries, regulate trade flows, generate revenue, or address other economic and political objectives.