WORLD HISTORY

Detailed explanation-1: -Answer: The restrictions set by the Government to regulate foreign trade are called trade barriers. Tax on imports is an example of a trade barrier. The Indian Government had put barriers to foreign trade and foreign investment after independence to protect the domestic producers from foreign competition.

Detailed explanation-2: -A trade barrier is a kind of measure which are introduced by the government or public authorities in order to make imported goods and services are less competitive than locally produced goods and services.

Detailed explanation-3: -Tax on imports is an example of trade barrier.

Detailed explanation-4: -After Independence, the Indian government had put barriers to foreign trade and foreign investment termed as ‘trade barriers’. This was considered necessary to protect the producers within the country from foreign competition.

Detailed explanation-5: -The government imposes trade barriers so that their domestic trade can flourish without any foreign impact. Trade barriers are aimed at protecting domestic jobs. They help in improving trade deficits. They protect infant industries and protect against dumping.