ECONOMICS
BARRIERS TO TRADE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Embargo
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Quota
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Subsidies
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Tariff
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Detailed explanation-1: -Again on October 19, 1960, almost two years after the Cuban Revolution had led to the deposition of the Batista regime, the US placed an embargo on exports to Cuba except for food and medicine after Cuba nationalized the US-owned Cuban oil refineries without compensation.
Detailed explanation-2: -Foreign investment and trade Cuba’s primary import partner is Venezuela. The second-largest trade partner is Canada, with a 22% share of the Cuban export market.
Detailed explanation-3: -Total trade in goods and services (exports plus imports) between the UK and Cuba was £39 million in the four quarters to the end of Q3 2022, a decrease of 4.9% or £2 million from the four quarters to the end of Q3 2021.
Detailed explanation-4: -Afghanistan. Belarus. China. Crimea. Cuba. Eritrea. Iran. Myanmar. More items