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Section 2

International Trade Barriers

Book Version 6
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Boundless Business
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by Boundless
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6 concepts
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Economics

Trade barriers are government-induced restrictions on international trade, which generally decrease overall economic efficiency.

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Ethical Barriers

Despite international trading laws and declarations, countries continue to face challenges around ethical trading and business practices.

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Cultural Barriers

It is typically more difficult to do business in a foreign country than in one's home country due to cultural barriers.

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Technological Barriers

Standards-related trade measures, known in WTO parlance as technical barriers to trade play a critical role in shaping global trade.

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The Argument for Barriers

Some argue that imports from countries with low wages has put downward pressure on the wages of Americans and therefore we should have trade barriers.

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The Argument Against Barriers

Economists generally agree that trade barriers are detrimental and decrease overall economic efficiency.

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