WORLD HISTORY

Detailed explanation-1: -The most common barrier to trade is a tariff–a tax on imports. Tariffs raise the price of imported goods relative to domestic goods (good produced at home). Another common barrier to trade is a government subsidy to a particular domestic industry. Subsidies make those goods cheaper to produce than in foreign markets.

Detailed explanation-2: -Tariff barriers-Tariff barriers are taxes imposed by a government on imports or exports of goods. These taxes can be used to increase the cost of imported products, make inputs available to domestic producers at more competitive prices and raise revenues for governments.

Detailed explanation-3: -A tariff or duty (the words are used interchangeably) is a tax levied by governments on the value including freight and insurance of imported products.

Detailed explanation-4: -A tariff is a tax on imports or exports of goods between countries. Tariffs are a form of regulation of foreign trade and a policy that taxes foreign products to encourage or safeguard domestic industry. Tariffs are specific. to each trade relation between the country of export and the country of import.

Detailed explanation-5: -A tariff Barrier is imposed by the government of the country importing goods. It has two-fold objectives, one to increase the government revenue and second, to raise the cost of foreign goods so that domestic companies can compete with the foreign goods.