Discuss and explain the various trade restrictions that a company must be prepared to face if it chooses to go into international marketing.
The main types of trade restrictions are tariffs, quotas, embargoes, licensing requirements, standards, and subsidies.
<br> A tariff is a tax put on goods imported from abroad. The effect of a tariff is to raise the price of the imported product. It helps domestic producers of similar products to sell them at higher prices. The money received from the tariff is collected by the domestic government.
<br> A quota is a limit on the amount of goods that can be imported. Putting a quota on a good creates a shortage, which causes the ...