What are the different types of trade barriers?

There are several types of trade barriers that can hinder international trade. These include:

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

2. Quotas: Quotas limit the quantity of goods that can be imported into a country. This restriction aims to protect domestic industries by reducing foreign competition.

3. Embargoes: Embargoes are complete bans on trade with a specific country or countries. They are usually imposed for political or security reasons.

4. Subsidies: Subsidies are financial assistance provided by governments to domestic industries, giving them a competitive advantage over foreign competitors.

5. Technical barriers to trade: These include regulations, standards, and certifications that can make it difficult for foreign products to enter a market due to differences in quality, safety, or technical requirements.

6. Administrative barriers: These barriers involve complex and time-consuming administrative procedures, such as excessive paperwork, licensing requirements, or customs regulations, which can discourage foreign companies from entering a market.

7. Currency manipulation: When a country artificially devalues its currency, it can make its exports cheaper and imports more expensive, giving domestic industries an advantage.

8. Intellectual property barriers: These barriers involve the protection of intellectual property rights, such as patents, copyrights, and trademarks. Lack of enforcement or weak legal frameworks can discourage foreign companies from investing or trading in a country.

It is important to note that these trade barriers can have both positive and negative effects on economies, depending on the specific circumstances and objectives of the countries involved.