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Answers
- ANSWER- Countries have trade barriers due to many reasons. Some of them are -
- To protect domestic farmers from outside competition.
- To prevent loss of unemployment which could occur due to loss of manufacturing in the country.
- Sometimes for the purpose of national security.
- To avoid excessive imports which results in loss of forex of the country.
- Sometimes it is done as a retaliatory measure to counter any wilful diversion from pact with another country .
- To protect domestic economy from dumping of merchandise from other countries.
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Answer:
Barriers are also employed by developed countries to protect certain industries that are deemed strategically important, such as those supporting national security. Defense industries are often viewed as vital to state interests, and often enjoy significant levels of protection.
Explanation:
To protect its local industries and jobs. Placing trade barriers restricts cheaper goods and service that may out-compete those of the local market if allowed to freely compete in the local market.
To protect its population when it feels that the foreign products or services do not meet its national standards and that the goods/services may be harmful for its local population as a measure of national security.
Trade barrier and tariffs are also used as a form of diplomacy. Trade barriers are imposed on good and services from a country that a nation considers hostil
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