What are 3 types of trade barrier?

1. Imposing indirect taxes for imported goods. This makes imported goods more expensive compared to locally produced goods. People are then encouraged to spend less on imports.

-Ad valor em tax - a certain percentage of the good's price

-Specific tax - a certain amount of a unit.

2. Imposing quotas. Only a certain volume of imports are allowed into the country.

3. Voluntary export restraints. This is to maintain diplomatic relationships between countries. A country might decide to export less to Another Country to avoid unnecessary trade restrictions BY the other country.

4. Export subsidies. A government might subsidies the cost of exporting to encourage a higher volume of exports. This increases the export earnings and net exports also increases.

5. Strict technical, administrative & other regulations. Imports are subjected to stringent rules and regulations to discourage them from importing more. Example, high level of red tape.