The policies are other than tariffs which restrict the volume of international trade Such policies are known as non-tariff barriers to trade and include such practices as import quotas, orderly marketing agreements, domestic content requirements, subsidies, antidumping regulations, discriminatory government procurement practices, social regulations, and sea transport and freight restrictions. It is noted that quotas and tariffs have many of the same economic effects; however, quotas tend to be more restrictive. Special attention is given to the revenue effect of an import quota, which may be captured by domestic importers, foreign exporters, or the domestic government. Differentiate between an import subsidy and an export subsidy
The policies are other than tariffs which restrict the volume of international trade Such policies are
known as non-tariff barriers to trade and include such practices as import quotas, orderly marketing
agreements, domestic content requirements, subsidies, antidumping regulations, discriminatory
government procurement practices, social regulations, and sea transport and freight restrictions. It is
noted that quotas and tariffs have many of the same economic effects; however, quotas tend to be
more restrictive. Special attention is given to the revenue effect of an import quota, which may be
captured by domestic importers, foreign exporters, or the domestic government. Differentiate
between an import subsidy and an export subsidy
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