Import Barrier (Noun)
Meaning
Any regulation or policy that restricts international trade.
Classification
Nouns denoting communicative processes and contents.
Examples
- The imposition of tariffs is a significant import barrier that hinders the growth of international trade between countries.
- Non-tariff trade barriers such as quotas and regulations can also serve as an import barrier to limit the entry of foreign products into the market.
- Many countries impose import barriers in the form of taxes and duties to protect domestic industries and reduce their reliance on imported goods.
- A country's strict safety and health standards can act as an import barrier to some international companies that cannot meet these requirements.
- The removal of import barriers is essential for countries that want to join international trade organizations and participate in global markets.