Question

Explain what effect trade barriers have on global interdependence.

Answer 1

Answer:

Because different places have different needs, comparative advantages and resources

Answer 2

They block nations from trading with each other

Explanation:

• Global interdependence  is where one nation depends on another nation for something and that nation may depend on another nation that ultimately establishes global interdependence. Exporting and importing of goods/services  contributes to global interdependence.
• Nations often act to protect their industries against imports produced in cheaper labor countries. Countries may impose trade barriers. However, these barriers are costly. Tariffs may help domestic industries, but by raising prices, they harm consumers.
• Another issue with trade barriers is that a certain number of barriers will lead to more barriers. For example, a nation may set up its own trade barriers, in response to tariffs imposed on the products it produces. There could be a trade war. One or more nations would place trade barriers to penalize another country for trade barriers during a trade war

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