Trade Restrictions
Trade restrictions are government-imposed limitations on the exchange of goods and services between countries. These can take various forms, such as tariffs, which are taxes on imported goods, or quotas, which limit the quantity of a product that can be imported. The purpose of trade restrictions is often to protect domestic industries, promote local jobs, or respond to unfair trade practices.
While trade restrictions can benefit certain sectors of the economy, they can also lead to higher prices for consumers and reduced choices in the market. Additionally, they may provoke retaliatory measures from other countries, potentially leading to trade wars that can disrupt global commerce and economic stability.