Question

What is inward looking trade policy

Answer 1

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❏Inward looking trade strategy is also known as import substitution. Its main aim is to produce goods domestically which are imported to our nation.

❏Here, the government protects the domestically produced goods from foreign competition.

❏This policy protects imports in two forms, tariffs and quota

Answer 2

Answer :

★ Inward looking trade strategy is also known as import substitution. Its main aim is to produce goods domestically which are imported to our nation.

★ Here, the government protects the domestically produced goods from foreign competition.

★ This policy protects imports in two forms, tariffs and quota .

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